Corporate Moves | Business Facilities - Economic Development, Site Selection & Workforce Solutions

V&M Star Expands in Youngstown V&M Star is investing $650 million in an expansion of its Youngstown, OH facility that is projected to create more than 350 new full-time jobs, and retain more than 400 jobs. Ohio Gov. Ted Strickland and Lieutenant Governor Lee Fisher lauded the announcement at a press conference in Youngstown. V&M Star, a leading producer of seamless oil country tubular goods, line and standard pipe, coupling stock and mechanical tube headquartered in Houston, TX, confirmed that it will build a new state-of-the-art rolling mill expansion project in Youngstown in both Mahoning and Trumbull counties. The state has been working with V&M Star over the past year to make this investment possible. Gov. Strickland met with V&M officials in Youngstown to discuss the company’s plans moving forward. “We commend V&M Star and its parent company, Vallourec, for their continued commitment to grow here in Ohio, an affirmation of Ohio’s strengths in manufacturing, our dedicated workforce and the state’s extensive logistics network,” Gov. Strickland said. “We also congratulate and thank the leadership in both Trumbull and Mahoning counties for their collaborative work in meeting the goals of the company, especially Youngstown Mayor Jay Williams, Girard Mayor James Melfi, and Congressman Tim Ryan for their diligent efforts and support of V&M’s continued investment in northeast Ohio.” The state of Ohio’s early commitment of $20 million in American Recovery and Reinvestment Act funding for road improvements and the relocation of rail lines near the current property of the V&M Star Steel Pipe Production Facility helped significantly to make these new jobs for Ohioans possible. Ohio Gets $30 Million Grant for CSX National Gateway Gov. Ted Strickland recently announced that Ohio has been awarded $30 million in federal Transportation Investment Generating Economic Recovery (TIGER) grants for the CSX National Gateway project. The National Gateway is an $842 million, multi-state infrastructure freight project aimed at reducing congestion on roads and highways, lowering emissions, and conserving energy. The TIGER Discretionary Grant program is part of the American Recovery and Reinvestment Act. “The National Gateway will improve the movement of freight and give Ohio even more opportunities to deliver goods to markets across our region and country,” Gov. Strickland said. A total of $98 million was awarded in TIGER grants to cover the federal portion of National Gateway clearance projects in Ohio, Pennsylvania and West Virginia. Ohio served as the lead sponsor of the National Gateway TIGER application. Ohio already has committed $20 million in targeted ARRA resources from the Federal Highway Administration to […]


V&M Star Expands in Youngstown V&M Star is investing $650 million in an expansion of its Youngstown, OH facility that is projected to create more than 350 new full-time jobs, and retain more than 400 jobs. Ohio Gov. Ted Strickland and Lieutenant Governor Lee Fisher lauded the announcement at a press conference in Youngstown. V&M Star, a leading producer of seamless oil country tubular goods, line and standard pipe, coupling stock and mechanical tube headquartered in Houston, TX, confirmed that it will build a new state-of-the-art rolling mill expansion project in Youngstown in both Mahoning and Trumbull counties. The state has been working with V&M Star over the past year to make this investment possible. Gov. Strickland met with V&M officials in Youngstown to discuss the company’s plans moving forward. “We commend V&M Star and its parent company, Vallourec, for their continued commitment to grow here in Ohio, an affirmation of Ohio’s strengths in manufacturing, our dedicated workforce and the state’s extensive logistics network,” Gov. Strickland said. “We also congratulate and thank the leadership in both Trumbull and Mahoning counties for their collaborative work in meeting the goals of the company, especially Youngstown Mayor Jay Williams, Girard Mayor James Melfi, and Congressman Tim Ryan for their diligent efforts and support of V&M’s continued investment in northeast Ohio.” The state of Ohio’s early commitment of $20 million in American Recovery and Reinvestment Act funding for road improvements and the relocation of rail lines near the current property of the V&M Star Steel Pipe Production Facility helped significantly to make these new jobs for Ohioans possible. Ohio Gets $30 Million Grant for CSX National Gateway Gov. Ted Strickland recently announced that Ohio has been awarded $30 million in federal Transportation Investment Generating Economic Recovery (TIGER) grants for the CSX National Gateway project. The National Gateway is an $842 million, multi-state infrastructure freight project aimed at reducing congestion on roads and highways, lowering emissions, and conserving energy. The TIGER Discretionary Grant program is part of the American Recovery and Reinvestment Act. “The National Gateway will improve the movement of freight and give Ohio even more opportunities to deliver goods to markets across our region and country,” Gov. Strickland said. A total of $98 million was awarded in TIGER grants to cover the federal portion of National Gateway clearance projects in Ohio, Pennsylvania and West Virginia. Ohio served as the lead sponsor of the National Gateway TIGER application. Ohio already has committed $20 million in targeted ARRA resources from the Federal Highway Administration to […]

Ohio Corporate Moves

Corporate Moves Articles

Ohio Corporate Moves

V&M Star Expands in Youngstown V&M Star is investing $650 million in an expansion of its Youngstown, OH facility that is projected to create more than 350 new full-time jobs, and retain more than 400 jobs. Ohio Gov. Ted Strickland and Lieutenant Governor Lee Fisher lauded the announcement at a press conference in Youngstown. V&M Star, a leading producer of seamless oil country tubular goods, line and standard pipe, coupling stock and mechanical tube headquartered in Houston, TX, confirmed that it will build a new state-of-the-art rolling mill expansion project in Youngstown in both Mahoning and Trumbull counties. The state has been working with V&M Star over the past year to make this investment possible. Gov. Strickland met with V&M officials in Youngstown to discuss the company’s plans moving forward. “We commend V&M Star and its parent company, Vallourec, for their continued commitment to grow here in Ohio, an affirmation of Ohio’s strengths in manufacturing, our dedicated workforce and the state’s extensive logistics network,” Gov. Strickland said. “We also congratulate and thank the leadership in both Trumbull and Mahoning counties for their collaborative work in meeting the goals of the company, especially Youngstown Mayor Jay Williams, Girard Mayor James Melfi, and Congressman Tim Ryan for their diligent efforts and support of V&M’s continued investment in northeast Ohio.” The state of Ohio’s early commitment of $20 million in American Recovery and Reinvestment Act funding for road improvements and the relocation of rail lines near the current property of the V&M Star Steel Pipe Production Facility helped significantly to make these new jobs for Ohioans possible. Ohio Gets $30 Million Grant for CSX National Gateway Gov. Ted Strickland recently announced that Ohio has been awarded $30 million in federal Transportation Investment Generating Economic Recovery (TIGER) grants for the CSX National Gateway project. The National Gateway is an $842 million, multi-state infrastructure freight project aimed at reducing congestion on roads and highways, lowering emissions, and conserving energy. The TIGER Discretionary Grant program is part of the American Recovery and Reinvestment Act. “The National Gateway will improve the movement of freight and give Ohio even more opportunities to deliver goods to markets across our region and country,” Gov. Strickland said. A total of $98 million was awarded in TIGER grants to cover the federal portion of National Gateway clearance projects in Ohio, Pennsylvania and West Virginia. Ohio served as the lead sponsor of the National Gateway TIGER application. Ohio already has committed $20 million in targeted ARRA resources from the Federal Highway Administration to […]


Ohio Corporate Moves

V&M Star Expands in Youngstown V&M Star is investing $650 million in an expansion of its Youngstown, OH facility that is projected to create more than 350 new full-time jobs, and retain more than 400 jobs. Ohio Gov. Ted Strickland and Lieutenant Governor Lee Fisher lauded the announcement at a press conference in Youngstown. V&M Star, a leading producer of seamless oil country tubular goods, line and standard pipe, coupling stock and mechanical tube headquartered in Houston, TX, confirmed that it will build a new state-of-the-art rolling mill expansion project in Youngstown in both Mahoning and Trumbull counties. The state has been working with V&M Star over the past year to make this investment possible. Gov. Strickland met with V&M officials in Youngstown to discuss the company’s plans moving forward. “We commend V&M Star and its parent company, Vallourec, for their continued commitment to grow here in Ohio, an affirmation of Ohio’s strengths in manufacturing, our dedicated workforce and the state’s extensive logistics network,” Gov. Strickland said. “We also congratulate and thank the leadership in both Trumbull and Mahoning counties for their collaborative work in meeting the goals of the company, especially Youngstown Mayor Jay Williams, Girard Mayor James Melfi, and Congressman Tim Ryan for their diligent efforts and support of V&M’s continued investment in northeast Ohio.” The state of Ohio’s early commitment of $20 million in American Recovery and Reinvestment Act funding for road improvements and the relocation of rail lines near the current property of the V&M Star Steel Pipe Production Facility helped significantly to make these new jobs for Ohioans possible. Ohio Gets $30 Million Grant for CSX National Gateway Gov. Ted Strickland recently announced that Ohio has been awarded $30 million in federal Transportation Investment Generating Economic Recovery (TIGER) grants for the CSX National Gateway project. The National Gateway is an $842 million, multi-state infrastructure freight project aimed at reducing congestion on roads and highways, lowering emissions, and conserving energy. The TIGER Discretionary Grant program is part of the American Recovery and Reinvestment Act. “The National Gateway will improve the movement of freight and give Ohio even more opportunities to deliver goods to markets across our region and country,” Gov. Strickland said. A total of $98 million was awarded in TIGER grants to cover the federal portion of National Gateway clearance projects in Ohio, Pennsylvania and West Virginia. Ohio served as the lead sponsor of the National Gateway TIGER application. Ohio already has committed $20 million in targeted ARRA resources from the Federal Highway Administration to […]


Georgia Corporate Moves

Orcon Products Expands to Coffee County The Georgia Department of Economic Development (GDEcD) has announced that Orcon Products, based in Union City, CA, is expanding to Douglas, GA in Coffee County. With this expansion, Orcon plans to create at least 50 direct jobs within the plant’s first 12 months of operation. “Manufacturing companies like Orcon Products represent a vital part of Georgia’s diverse economy,” said Ken Stewart, commissioner of the Georgia Department of Economic Development. “Georgia’s progressive business climate will benefit Orcon Products and foster continued economic growth for Coffee County.” Formed in 1962, Orcon Products manufactures seaming tape for aerospace and carpet applications. The company’s Douglas plant will primarily be tasked with manufacturing carpet seaming tape. This operation will locate in an existing 45,000-square-foot warehouse in Douglas, and will be ready for production by March 2010. Hiring is scheduled to begin by the end of February 2010. “The positive guidance and assistance that the Georgia Department of Economic Development and the Douglas-Coffee County Development Authority provided to Orcon Products during its search for a location for a new manufacturing site were deciding factors in Orcon Products selection of Douglas-Coffee County,” said Hollis Bascom, Orcon Corporation founder, president and CEO. “It’s always a pleasure to work with professionals.” In addition to Coffee County’s pro-business climate, Orcon Products will also leverage the benefit of a well-trained workforce through collaboration with Quick Start, Georgia’s strategic workforce training solution. Quick Start’s five regional offices mean that no matter where in Georgia a company chooses to locate, a Quick Start team of experts is available to provide training services. “It is always a great feeling to bring new jobs to Coffee County and Georgia,” said JoAnne Lewis, Executive Director of the Douglas-Coffee County Development Authority.  “With more than 40 years of success, Orcon is a great example of entrepreneurship. The doors of our community are open to job growth and we are proud to have Orcon as a partner.” U.K.-Based Metal Products Facility Set for Liberty County Gov. Sonny Perdue has announced the expansion of Firth Rixson Limited, a United Kingdom-based provider of highly engineered forged metal products, to Midway in Liberty County. The 200,000-square-foot facility will serve as a closed die forging operation providing components for the aerospace industry. Once fully operational, the company’s Georgia facility will create at least 200 local jobs. “The aerospace sector is a targeted industry for Georgia,” said Gov. Perdue. “With the opening of its new operation in Liberty County, Firth Rixson Limited strengthens our leadership position in […]


Georgia Corporate Moves

Orcon Products Expands to Coffee County The Georgia Department of Economic Development (GDEcD) has announced that Orcon Products, based in Union City, CA, is expanding to Douglas, GA in Coffee County. With this expansion, Orcon plans to create at least 50 direct jobs within the plant’s first 12 months of operation. “Manufacturing companies like Orcon Products represent a vital part of Georgia’s diverse economy,” said Ken Stewart, commissioner of the Georgia Department of Economic Development. “Georgia’s progressive business climate will benefit Orcon Products and foster continued economic growth for Coffee County.” Formed in 1962, Orcon Products manufactures seaming tape for aerospace and carpet applications. The company’s Douglas plant will primarily be tasked with manufacturing carpet seaming tape. This operation will locate in an existing 45,000-square-foot warehouse in Douglas, and will be ready for production by March 2010. Hiring is scheduled to begin by the end of February 2010. “The positive guidance and assistance that the Georgia Department of Economic Development and the Douglas-Coffee County Development Authority provided to Orcon Products during its search for a location for a new manufacturing site were deciding factors in Orcon Products selection of Douglas-Coffee County,” said Hollis Bascom, Orcon Corporation founder, president and CEO. “It’s always a pleasure to work with professionals.” In addition to Coffee County’s pro-business climate, Orcon Products will also leverage the benefit of a well-trained workforce through collaboration with Quick Start, Georgia’s strategic workforce training solution. Quick Start’s five regional offices mean that no matter where in Georgia a company chooses to locate, a Quick Start team of experts is available to provide training services. “It is always a great feeling to bring new jobs to Coffee County and Georgia,” said JoAnne Lewis, Executive Director of the Douglas-Coffee County Development Authority.  “With more than 40 years of success, Orcon is a great example of entrepreneurship. The doors of our community are open to job growth and we are proud to have Orcon as a partner.” U.K.-Based Metal Products Facility Set for Liberty County Gov. Sonny Perdue has announced the expansion of Firth Rixson Limited, a United Kingdom-based provider of highly engineered forged metal products, to Midway in Liberty County. The 200,000-square-foot facility will serve as a closed die forging operation providing components for the aerospace industry. Once fully operational, the company’s Georgia facility will create at least 200 local jobs. “The aerospace sector is a targeted industry for Georgia,” said Gov. Perdue. “With the opening of its new operation in Liberty County, Firth Rixson Limited strengthens our leadership position in […]


Alabama Corporate Moves

Hanwha Expands, Creates Jobs in Opelika Hanwha L&C Alabama (formally known as Maxforma Plastics LLC) announced that the company will begin a second major expansion of their manufacturing facility in the Northeast Opelika Industrial Park. Hanwha is a manufacturer of construction materials such as plastic floor materials, artificial marble, automotive components, interior decorations and other plastic products including packing materials and films. According to information provided by the city of Opelika, the company plans to invest another $11 million for a building expansion and equipment in the city. They will add approximately 25,000 square feet to the existing building for a total of 145,000 square feet. The expansion is expected to be completed by August 2010 and will create 25 new jobs. Hanwha L&C Alabama began operation in Opelika in 2005 and is part of the automotive division of Hanwha L&C Corporation based in Seoul, South Korea, a business averaging over $20 billion in annual revenue. Hanwha’s first Opelika expansion in 2008 was a $15 million investment that created 45 new jobs and 42,000 square feet. Opelika Mayor Gary Fuller stated, “We sincerely appreciate Hanwha’s investment in our community and pledge to continue to support their growth and success here in Opelika.” Northeast Opelika Industrial Park is located on 2,200 acres in the northern portion of Opelika along Interstate 85. Equipped to meet a wide variety of site needs, the largest contiguous parcel is 1,200 acres. The city’s large labor pool of over 440,000 within a 30-mile radius, a top community college within five minutes of the park, Auburn University fifteen minutes away, and transportation advantages that include rail service by CSX and close proximity to Atlanta’s Hartsfield International Airport, make Northeast Opelika Industrial Park attractive to the automotive industry. The new expansion will increase the company’s total investment in Opelika to approximately $43 million, according to the city. Hanwha L&C Alabama is a tier one supplier to Hyundai in Alabama and Kia Motors Manufacturing of Georgia. Industrial Park Planned for Northwest Alabama Regional Airport Site Northwest Alabama Regional Airport has submitted a pre-application for a $5 million Federal Aviation Administration discretionary grant that would pay for infrastructure development on about 90 acres of airport property adjacent to the Muscle Shoals Research Airpark. The idea is to develop an industrial park on airport property that would attract aviation-related businesses to Muscle Shoals, AL. The airport board of directors has agreed to provide a $125,000 match if the grant is approved. FAA discretionary money covers 95 percent of an airport improvement […]


Michigan Corporate Moves

Michigan Gets $1.35 Billion from DOE for Advanced Battery Development Vice President Joe Biden recently announced that 12 Michigan projects have been awarded more than $1.35 billion in economic stimulus grants from the U.S. Department of Energy to support advanced battery and electric vehicle manufacturing and development. Funding for the competitive grants comes from the American Recovery and Reinvestment Act. The projects are estimated to create 6,800 jobs in the next 18 months and up to 40,000 jobs by 2020. Michigan Gov. Jennifer M. Granholm and Lt. Gov. John D. Cherry Jr. hailed the awarding of the alternative energy grants. “Three years ago, we identified the advanced battery market as a key emerging sector that Michigan, already the global center of automotive research and development, was positioned to lead,” Granholm said. “We developed an aggressive strategy to make Michigan the advanced battery capital of the world, and today’s announcement is another huge step toward that goal.” “Michigan is the leader among states in the advanced battery field, and it will help transform our economy,” Cherry said. “We are working to establish an entire advanced battery industry with manufacturers, suppliers, and the entire value chain located right here in Michigan, creating new economic activity and new jobs.” Michigan saw the opportunity for an advanced battery industry early and developed an innovative strategy to bring to Michigan the jobs and economic development created by advanced battery research, development, and manufacturing. That strategy includes Michigan’s first-in-the-nation advanced battery tax credits. Earlier this year, Granholm signed into law legislation providing up to $700 million in refundable tax credits to encourage companies to develop and manufacture advanced batteries and commercialize advanced battery technologies in Michigan. Michigan’s early commitment to this initiative was a key factor in Michigan projects receiving the DOE grants. Beginning in February, the Michigan Economic Growth Authority (MEGA) approved battery incentive agreements with Ford, GM, and Chrysler totaling $280 million for pack engineering, integration and assembly, vehicle engineering, and advanced-battery technologies. In April, MEGA approved $400 million in refundable advanced battery tax credits for A123Systems, Johnson Controls-Saft Advanced Power Solutions, KD Advanced Battery Group, and LG Chem-Compact Power. The state also is expanding its advanced automotive research outside of the metro Detroit area. For example, Mercedes-Benz is expected to hire more than 200 workers for a hybrid technologies research and development center that will be relocated from Troy, MI to Washentow County. The center will be the first major alternative propulsion technology operation in the Ann Arbor, MI region, which is steadily […]


Mississippi Corporate Moves

ATK Expanding Iuka Plant To Make Aero Composites Alliant Techsystems, Inc. (ATK) is expanding its Iuka, MS facility to manufacture composite structures for next-generation commercial aircraft. ATK will produce composite structures for these aircraft, as well as composite aircraft engine components, at its Iuka facility. The expansion is expected to retain the 176 jobs currently at the facility; the workforce will grow to a total of 800 employees in the next eight years. “We welcome ATK’s decision to locate its composite airframe operations at the Tishomingo County facility,” Gov. Haley Barbour said. “ATK’s selection of its Mississippi site for these high-tech operations indicates the company’s confidence in Mississippi’s workforce and its ongoing commitment to doing business in the state.” The state assisted ATK with funding for building infrastructure improvements. “Expanding ATK’s presence in Mississippi with its talented workforce, strong university system, and pro-business environment is the right strategic move for our company,” said Dan Murphy, Chairman and CEO. “We are delighted ATK has chosen to grow its composite manufacturing operations for commercial aircraft here in Mississippi,” said Gray Swoope, executive director of the Mississippi Development Authority. “This further confirms Mississippi is a prime location for companies involved in advanced material-making processes for the aerospace industry.  ATK’s decision to locate these operations in Mississippi will provide a future for many of our college graduates in this field.” ATK is a premier aerospace and defense company with more than 17,000 employees in 21 states. It is a leading manufacturer of composite components for military aircraft and satellites. ATK is the world’s largest ammunition manufacturer for military, law enforcement and commercial markets, and it is the largest producer of solid rocket motors for access to space and tactical weapons. United Chair Adds Jobs at Bruce, MS Facility United Chair, owned by Haworth Inc., will add at least 125 new jobs at its Bruce, MS, facility. The company’s Bruce plant currently employs approximately 180 people. The new jobs at the Bruce facility, the result of a consolidation in North American operations for Haworth, will have an average wage rate of $13.44 per hour.  Mississippi Development Authority has provided $500,000 to assist with infrastructure improvements at the Bruce plant. Also, the Appalachian Regional Commission has committed approximately $219,000 and the City of Bruce and Calhoun County have pledged approximately $115,000 for public infrastructure improvements. “During these challenging economic times, companies face difficult decisions regarding where to focus production. This announcement clearly demonstrates Haworth’s confidence in Mississippi as the right place to do business,” said Gray […]


Texas Corporate Moves

Toyota Moving Tacoma Truck Production to San Antonio Toyota Motor Corp. has announced that it will relocate production of the Tacoma pickup from a plant in California to its manufacturing facility in San Antonio by next summer. San Antonio and Bexar County officials estimate 100,000 Tacomas will be produced annually following a $100 million retooling at Toyota’s San Antonio campus. The Tacoma line will diversify the plant with a second vehicle and as many as 1,100 new jobs to the facility. It will also create new jobs at 21 on-site suppliers. The Japanese automaker has ended its relationship with a joint venture plant in the San Francisco Bay area as part of an effort to reduce excess production capacity. Toyota will stop making vehicles at the New United Motor Manufacturing Inc. plant—its first manufacturing facility in the United States, which started in 1984 as a 50-50 business deal with General Motors—in March 2010. The relocation will return work at the San Antonio plant, which has the capacity to build about 200,000 Tundras annually, back to two shifts for the first time since it shuttered for three months last summer to sell off excess inventory. “This is what we wanted, a dual line to alternate with the Tundras,” a San Antonio Chamber of Commerce official said, according to wire service reports. “We had thought several years ago it might be the Highlander hybrid, but this plant and its workers have the flexibility to keep jobs strong there.” Temporary plant workers who had been laid off in San Antonio or those who applied for Tundra work and didn’t get the job could be first in line for the new positions, Bexar County officials said. Toyota’s decision to end its 25-year relationship with the NUMMI plant, which also produces the Corolla, came nearly two months after GM said it was pulling out of the joint venture. It marks the first time the Japanese automaker has closed a plant, either at home or abroad. In the midst of the current recession Toyota announced the first quarterly losses in its 70-year history earlier this year. San Antonio Mayor Julian Castro said the announcement demonstrates the Texas city’s attractiveness to business looking for a skilled, low-cost workforce. “San Antonio is emerging as an economic powerhouse. This demonstrates the talent of the work force and the low cost of doing business in San Antonio, as well as a high level of public and private cooperation,” he said. The chief executive of the Greater San Antonio Chamber of […]


Ohio Corporate Moves

Amylin Pharmaceuticals Plant Nears Completion in West Chester, OH Amylin Pharmaceuticals is nearing completion on a $400 million manufacturing facility in West Chester, OH that is expected to support at least 500 jobs in the Butler County area. The biotech firm, which is based in San Diego, made a commitment in 2005 to invest in the Ohio facility. Company officials say the eventual footprint of the plant is dependent on the success of a new form of its diabetes treatment BYETTA©. The drug, administered by injection, is awaiting Food and Drug Administration approval. “The manufacturing facility in Ohio is nearing completion. We have made great progress by finalizing the commercial-scale manufacturing process at the facility,” an Amylin spokesperson told Business Facilities. “We are producing and shipping commercial scale material for use in ongoing exenatide (BYETTA)© once weekly clinical studies while we await approval of the drug from the FDA. The eventual footprint of the facility will be determined by the potential of exenatide once weekly, the product that we will manufacture there.” Initially, the project envisioned a 151,000-square-foot biopharma plant costing about $150 million to set up and equip, to be run as a subsidiary of Amylin Ohio LLC. In 2005, Amylin purchased a 26-acre site, including existing buildings, for $9 million. Two years later, the company expanded its plans, purchasing an additional 17 acres for $4.5 million and upping its overall investment in the Ohio facility to $400 million. The first phase of the project began in 2006. Filling and sterilization equipment installation began at the end of last year. Employment at the West Chester plant will be ramped up over a three-year period. “It’s a major, major expansion,” said Butler County Commissioner Michael Fox. “We worked with the state and the county on an incentive package.” West Chester Township trustees also played a role in crafting incentives for the expansion of the Amylin project in 2007. The state of Ohio, via the development arm the Ohio Department of Development, has committed around $117 million in benefits and financial assistance for the new manufacturing facility project, including $30 million provided by Butler County and West Chester Township. Amylin also received a 10 year, 75% tax abatement, an agreement that requires them to reimburse the Lakota school district 100% of the taxes owed, totaling of over $4 million in the long run. Part of the incentive deal is a public-private partnership to meet Amylin’s workforce and research and development needs by creating a partnership with adult career technical schools, community […]


New York Corporate Moves

New York Corporate Moves

GLOBALFOUNDRIES Building $4.2-Billion Microchip Plant in Malta, NY Luther Forest Technology Campus Economic Development Corporation (LFTC) and GLOBALFOUNDRIES held their official groundbreaking last month in Malta, NY for the construction of a $4.2-billion microchip fabrication plant, called Fab 2, marking the beginning of construction of what is planned as the most advanced chip fabrication plant in the world. The project, located in Saratoga County, NY, is expected to create 1,400 high-tech jobs in the region. LFTC is actively seeking additional tenants for the remaining nine development areas. In addition to almost a decade of planning, by economic development entities and state and local government leaders, public-private partnerships have contributed to the success of LFTC. The state of New York has contributed up to $1.2 billion in incentives toward the GLOBALFOUNDRIES project. “The groundbreaking is proof that GLOBALFOUNDRIES is officially a part of Luther Forest Technology Campus and will bring positive benefits to Saratoga County,” said Michael Relyea, president of Luther Forest Technology Campus. “As one of the largest economic development projects in the country, it is monumental in moving the region toward a brighter economic future. This investment in the global economy shows Luther Forest Technology Campus as a model for the nation.” The GLOBALFOUNDRIES project is slated to employee around 1,600 construction workers over the next two to three years plus an additional 2,700 workers for local construction-related jobs. In addition, the fab will create more than 1,400 high-tech jobs with an estimated annual payroll of $88 million once production begins, as well as around 5,000 indirect jobs in the region. The total estimated annual payroll for all jobs is $290 million. “Luther Forest Technology Campus offers an outstanding business environment while Saratoga County and the Capital Region offer an outstanding high quality of living including stellar public education, at the base of the Adirondacks,” said Dennis Brobston, president of Saratoga Economic Development Corporation. The build out of the campus is expected to lead to future growth for Tech Valley, as additional companies move to the area. LFTC is shovel-ready, featuring flexible lot sizes of up to one million square feet for the remaining development areas. The campus has access of up to 15 million gallons per day of fresh water, redundant power with 99-percent reliability, sewer lines and telecommunications. Because the soil composition absorbs vibration, the land is ideal for high-tech construction. Centrally located between New York City, Boston and Montreal, LFTC is close to an international airport, a rail system and a major port. The newly constructed […]