Companies in Broome and Oneida Counties will use state funding that the board of directors of Empire State Development (ESD) approved during a recent session in New York City.
The local grant awards are part of $12 million in funding that the ESD board approved for nine projects.
The funding recipients include Bates Troy, Inc., a Binghamton–based family owned laundry-operations business.
The company will use a grant of up to $380,000 to purchase and install a combined heat and power unit that will provide savings and backup-energy alternatives for its laundry-plant operations, ESD said in a news release distributed on Monday.
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Bates Troy is pursuing energy-efficient machinery and equipment upgrades as part of its $4.5 million expansion project at its corporate plant, but said it needed assistance to purchase the energy-efficient products.
With the expansion, Bates Troy will retain 70 jobs and create 55 new positions. The company has already created 20 new jobs, according to ESD.
Bates Troy applied for funding assistance through round two of the Southern Tier regional economic-development council (REDC) consolidated-funding application (CFA) process, ESD said.
The ESD board also approved funding for a Rome–based company that had applied for assistance through the CFA process with the Mohawk Valley REDC.
Rome Strip Steel Company, Inc., a family-owned business operating the only remaining steel mill in New York, will use a grant of to $150,000 for the purchase of new machinery and equipment to increase production and to “retain its competitive edge,” ESD said
The company supplies cold-rolled strip steel to the automotive, bearing, and chainsaw industries.
As a result of this project, Rome Strip Steel will retain 124 full-time permanent jobs in the Mohawk Valley. It currently employs 129 people, exceeding its goal by 5 jobs, ESD said.
Besides the REDC grants, the ESD board also approved a $200,000 grant from the Economic Development Purposes Fund for Munson Machinery Company, Inc. of Utica.
The firm, a manufacturer of industrial mixers, blenders and size-reduction equipment, will use a grant of up to $200,000 for the construction of a bay with cranes, a loading dock, and the purchase of new machinery and equipment to further the company’s expansion.
The U.S. Environmental Protection Agency recently announced new guidelines for coal power-plant emission standards that firms must meet by April 15, 2015.
In an effort to comply, Munson “identified an opportunity” to manufacture units that will reduce emissions from its coal power plants, and approached ESD for funding to build a bay addition to produce these new units, ESD said.
The project has helped the company retain 38 existing jobs and create 12 new positions. Munson has already created 3 jobs, ESD said.
Contact Reinhardt at ereinhardt@cnybj.com
