State funding will assist expansion projects for two Hornell-based industries
Hornell, N.Y., November 14—New York State Senator Tom O’Mara (R-C, Big Flats) and Assemblyman Phil Palmesano (R-C-I, Corning) announced today that the city of Hornell will receive $600,000 in state Community Development Block Grant (CDBG) Economic Development funding to assist the expansion of two local industries.
“We’re grateful that these Hornell-based industries are being recognized as important to New York State’s overall strategy to spark private-sector economic growth and job creation. This state investment will help secure them as anchors of our regional economy and sources of opportunities for many local workers,” O’Mara and Palmesano said.
The local lawmakers said that the federally-funded CDBG program, administered through New York’s Housing Trust Fund Corporation, delivers economic development aid to eligible counties, cities, towns, and villages to assist community development projects aimed at expanding affordable housing or enhancing economic development. The funding will leverage additional private investment.
O’Mara and Palmesano said that the city of Hornell will receive:
-- $450,000 to assist in the expansion of TTA Systems. The funding will used for machinery and equipment costs associated with the expansion, specifically to allow TTA to create a fabrication shop. The project proposes to create 30 new jobs, more than half of which will be made available to low-to-moderate income individuals; and
-- $150,000 for working capital costs associated with the expansion of Electrical Power worX Corp (EPX). The funding will allow the company to provide intensive on-the-job training to all new workers. The project proposes to create 10 new jobs, more than half of which will be made available to low-to-moderate income individuals. EPX was established in 2007 to design and manufacture high quality products that recover, store and resupply energy for transportation, renewable energy and materials handling equipment.