SYRACUSE, N.Y. — NexGen Power Systems moved one step closer to taking over empty space in DeWitt that New York state built to house a light bulb maker.
After a brief phone discussion with NexGen President and CEO Dinesh Ramanathan, the Onondaga County Industrial Development Authority (OCIDA) approved a 15-year, $3.1 million payment in lieu of taxes (PILOT) agreement for the California–based high-tech company that expects to create 290 jobs in the next seven years.
OCIDA also approved a sales-tax exemption on materials the firm buys to improve the facility, saving NexGen up to $40,000.
(Sponsored)
Time to Prepare for OSHA’s new “Walkaround Rule”
In a development consistent with President Biden‘s growing reputation as leading the most pro-union administration in history, the Occupational Safety and Health Administration (OSHA) has published a rule allowing employees
Standing Out in a Crowded Market: How JRECK Subs Sets Itself Apart in the Quick-Service Industry
In a sea of fast-food and sandwich chains, JRECK Subs continues to grow a loyal following — not by shouting the loudest, but by staying true to what matters: fresh
NexGen holds multiple patents and creates gallium-nitride semiconductor devices. The company says its products allow for the building of smaller and more efficient power converters. Such converters are part of most electronics.
The space NexGen is looking to occupy is an 82,000-square-foot building at 50 Collamer Crossing Parkway originally built, with $90 million in state taxpayer money, to host Soraa, a maker of LED lighting. That company, also based in California, eventually pulled out of the project.
During the phone call, Ramanathan said Empire State Development had approved a $15 million grant for NexGen’s project.
Contact McChesney at cmcchesney@cnybj.com
