Adv0812 Nyprojects

A CYBERSECUTIRY LEADER EXPANDS AND SETTLES IN THE MOHAWK VALLEY
A high-tech Oneida County company is expanding into a new building and projecting the addition of 39 employees in a project supported by the Mohawk Valley Economic Development Growth Enterprises Corporation (EDGE). In September 2010, construction began on a new $10.6 million, 46,000-square-foot headquarters at Grifss Business and Technology Park. The building is for Assured Information Security (AIS), a leader in research on cybertechnology, which had outgrown the research space it had occupied just four years earlier. Empire State Development provided $1 million to support the project, and Cardinal Grifss Realty, a subsidiary of GLDC/EDGE, nanced it with $5.6 million from various sources. This financing included $1.6 million from Oneida Savings Bank and $2.4 million in New Market Tax Credits through US Bancorp Community Development Corporation. "The presence of AIS at Grifss adds to a growing cluster of cyber security-focused companies spurred by the proximity to the Air Force Research Laboratory, which is a cornerstone of Central New Yorks growing information technology corridor," said Steven DiMeo, president of EDGE. The company was founded in 2001. By 2005, Inc. Magazine had recognized it as one of the nation's fastest growing companies. AIS occupied 36,000 square feet of the new building in November 2011, and it plans to expand into the additional 10,000 square feet by May 2013. This new facility not only solidifies our commitment to this area, but will also help us compete on a national scale for talent and resources to support research and development of computer network security technologies, said Charles Green, president and CEO of AIS.
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arriving for the fall term in 2013. "Our research among New York's community colleges with residential campuses provides strong evidence that a much richer, more vibrant learning environment for all our students will be the result of adding student housing to our Spencer Hill campus," said Katherine Douglas, president of the college. SAEDC is serving as the conduit for tax exempt bond financing for the project. It also served as lead agent for the State Environmental Quality Review. "This project is another example of local economic development agencies providing assistance to enhance a community's resources," said James Johnson, executive director of the Steuben County IDA. "Student housing options benefit students, institutions, and communities by providing competitive advantages and expanding regional educational and employment opportunities, and by creating a more vibrant workforce for our business community," he added. The project, which is being managed by Welliver Inc., is also supported by the Town of Corning, Five Star Bank, Chemung Canal Trust Company, and Elmira Savings Bank.
ability to react to the needs of businesses and in doing so, build the economic foundation we need to continue to enhance the quality of life in Rockland." "Our mission at the IDA is to ensure our incentives facilitate business growth in Rockland County," said Steven Porath, executive director of the IDA. "Raymour's investment in Rockland and New York State represents a significant addition to our local business community and further endorses the strength of our economy." In addition to state and local incentives, Raymour & Flanigan will also receive incentives provided by Orange and Rockland Utilities, including its economic development rate for electric delivery service. The Rockland IDA provides financial incentives to retain, expand, and attract business in Rockland County. Incentives include state and local sales tax exemption, mortgage recording tax exemption, tax-exempt bond financing, and a real property tax abatement program.
ORANGE COUNTY ATTRACTS MANUFACTURER, BESTING OTHER STATES IN COMPETITION

An Ulster County manufacturer is planning to build a new facility in Orange County instead of relocating to another state. Hunter Panels, which makes roofing materials for commercial and industrial markets, is building a 360,000-square-foot building at the 138-acre Hudson Valley Crossing site in Hamptonburgh. The building will have about twice the space as the company's current location, and it will have capacity to expand to 400,000 square feet. The total capital investment for the project, including the acquisition of the land, is approximately $27 million. The Orange County IDA is providing incentives to both Hunter Panels and Hudson Valley Crossing. When the new facility opens, between 70 and 90 workers are expected. Construction on the projected, which represents an estimated investment of $35 million, began in May. The company is scheduled to occupy the building by the first quarter of 2013. Over the years, Hunter Panels has offered the Hudson Valley many opportunities that have brought recognition to the area and provided
ROCKLAND COUNTY IDA ATTRACTS A MAJOR WAREHOUSE AND DISTRIBUTION FACILITY

With help from the Rockland County IDA, a family -owned furniture company is investing some $40 million to buy and renovate a facility that will serve as the company's regional warehouse and distribution facility. The project for Raymour's Furniture Company is expected to secure more than 300 jobs for Rockland County, the IDA said in a release. The 893,000square-foot facility is in the village of Montebello. The company operates Raymour & Flanigan stores and is the nation's fifth-largest furniture retailer. Headquartered in Liverpool, Onondaga County, it began in 1947 with a single store in downtown Syracuse. Today, it has 2,079 employees across New York and 95 stores and showrooms in New York, New Jersey, Pennsylvania, Delaware, Connecticut, Massachusetts, and Rhode Island. "Once again, we are announcing the tangible results of the IDA's economic development efforts with our partners in New York State government," said Eric Dranoff, chairman of the IDA. "This project demonstrates how the IDA strengthens the County's
IN STEUBEN COUNTY, DEVELOPERS HELP CREATE NEW STUDENT HOUSING

The Steuben County IDA and its sister agency, the Steuben Area Economic Development Corporation (SAEDC), are helping Corning Community College build a new student residence hall at its Spencer Hill Campus. Ground was broken for the project in April. The $16 million project will create a three-story building with 84 suites and room for 322 student residents. Construction is expected to continue through the first half of 2013 with the first student residents
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Continued from Page 5 ORANGE COUNTY ATTRACTS MANUFACTURER, BESTING OTHER STATES IN COMPETITION
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jobs to local residents, so were obviously very glad that this company will remain a staple of the Hudson Valley for years to come, said Mike Oates, President and CEO of Hudson Valley Economic Development Corp. Proximity to the rail facilities and to New York State Thruway and Interstate Route 84 were also factors in the decision to choose Orange County over competing sites in Connecticut and Massachusetts, Halahan added. The 138-acre Hudson Valley Crossing site is fully approved for a 1.3 million-square foot distribution center and three buildings totaling 1.2 million square feet. The site is especially attractive because of its proximity to Interstates I-84 and I-87, Stewart International Airport, and Norfolk Southern Railway.

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A CYBERSECUTIRY LEADER EXPANDS AND SETTLES IN THE MOHAWK VALLEY

ORANGE COUNTY ATTRACTS MANUFACTURER, BESTING OTHER STATES IN COMPETITION

ROCKLAND COUNTY IDA ATTRACTS A MAJOR WAREHOUSE AND DISTRIBUTION FACILITY

IN STEUBEN COUNTY, DEVELOPERS HELP CREATE NEW STUDENT HOUSING

Continued on Page 6 Page 5

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