Senator Hugh T. Farley (R,C - Schenectady) joinsed Governor George E. Pataki in announcing Montgomery County will receive $615,000 in grant funding through the Governor's Office for Small Cities (GOSC) Economic Development program to assist Power Pallet, Inc. with the relocation and expansion of its manufacturing facility. The project is expected to create 50 new jobs.
"We're proud to partner with Montgomery County in helping Power Pallet transform the former Mohawk Finishing Manufacturing facility into a thriving local business operation that will be home to 50 new jobs," Governor Pataki said. "This project is a great example of how our Office of Small Cities' Economic Development program is successfully encouraging new business expansion and job creation in communities across New York State."
"As we continue to invest and partner with local governments on key economic development priorities like the Power Pallet project, we will be well poised to reach our ambitious goal of creating one million new jobs by the end of the decade," the Governor added.
Senator Farley said, "Power Pallet is a solid local business which helps the environment and the local economy by recycling and rebuilding wooden pallets which would otherwise be thrown away. They outgrew their Schenectady facility, and now are ready to expand their business and create new jobs in Montgomery County. Governor Pataki has built a national reputation for his commitments to the environment, and to the creation of new jobs for New Yorkers. This project combines the Governor's passions and will be a tremendous success for our area. I appreciate the Governor's leadership, and Glen King's hard work."
William E. Strevy, Chairman, Montgomery County Board of Supervisors, said, "This funding through the Governor's Office for Small Cities was vital in bringing this project to Montgomery County, while at the same time providing for the re-use of a former vacant manufacturing facility. The project will add much needed tax revenues and the new payroll wages will help in revitalizing our economy along with adjacent businesses."
Glen King, Director of the Governor's Office for Small Cities said, "This collaboration between the State and Montgomery County to introduce this important project to the community reflects Governor Pataki's leadership and commitment to improving New York's economy. This project is an investment in Montgomery County and reflects the Governor's vision for a bright future for all New Yorkers.
Power Pallet, Inc. recycles and refurbishes wooden pallets used by various businesses throughout New York State and Western Massachusetts. The project announced today will allow Montgomery County to assist the company with the relocation and expansion of their business into the former 148,000 square foot Mohawk Finishing Manufacturing Facility. The project will revitalize a facility that has been vacant for three years, creating 50 new jobs and retaining 70 jobs in the process.
Additional funding for the $4.5 million project will be provided through a variety of sources, including the Empire State Development Corporation, New York State Energy and Research Development Authority, owner equity and local bank financing. Small Cities funds will be used to provide the equipment and machinery needed for production.
Since 2000, the GOSC provided approximately $250 million for community development projects throughout the state, including over $4 million to local communities throughout Montgomery County. The GOSC awards grants to small municipalities across New York for job creation, improved housing and public facilities and planning. Small Cities funds are provided to New York through a federal grant, with a total of approximately $52 million available each year to local communities.
For more information on the Small Cities program, please visit the website www.nysmallcities.com or call (518) 474-2057.