Saratoga Economic Development Corp. (SEDC) is coordinating eligible proposed investment and job creation incentives for two separate firms totaling $21 million in new investment.
Combined, it could lead to 130 new and 69 retained jobs in the county, agency officials said, pending approvals by local and state agencies.
SKS Bottle & Packaging Inc., founded in 1986, will invest nearly $16 million in a new 128,000 square-foot building at the WJ Grande Industrial Park in Saratoga Springs, according to Dennis Brobston, SEDC president.
He said the new facility will double as its corporate headquarters and operations center. SEDC is leading the presentation drive for a $2.2 million property, sales and mortgage tax incentive package for approval by the Saratoga County IDA on Dec. 12.
“Only 15 percent of SKS product is sold in the northeast making this a company that could have easily left New York state,” said Brobston. “We worked with its leadership for over two years to set the stage for the right location and investment consideration to attract its 100 jobs to Saratoga County and to incentivize growth that will produce 20 more jobs in five years.”
The other project involves Stone Bridge Iron & Steel Inc. of Northumberland. Brobston said the company is working toward a nearly $5 million, 25,000-square-foot expansion of its current facility at 426 Purinton Road in Saratoga County.
The company’s new investment will serve growth in their northeastern and mid-Atlantic markets, SEDC said. The manufacturer of steel products for commercial industrial, mining, aerospace, advanced manufacturing and institutions is seeking a 10-year PILOT incentive package with sales and mortgage tax abatements via the Saratoga County IDA.
Brobston said it will retain 69 local jobs and add 10 new jobs. It is also pending incentives from Empire State Development Corp. critical to supporting their decision to invest here.
“Stone Bridge has had about 30 percent of its production done outside of New York state and is considering opportunities outside of the Capital Region,” said Brobston. “Should the project incentives we are helping pursue be approved, along with its building plans, it can return that productivity home and drive the addition of more good paying jobs in Saratoga County.”
According to SEDC, this brings the 2016 total impact of SEDC projects to $50 million, creating 426 new jobs and retaining 201 jobs. It will result in over $23 million of employee wages into area households annually.
“Our Advance Saratoga strategic initiatives focus on attracting investment and retaining good paying local jobs in key sectors,” said Brobston.
“These two exciting proposed projects accomplish both and mark progress against key goals of Advance Saratoga; namely, attracting investment and new jobs here, and retaining locally grown small businesses to grow and thrive in the area.”
SEDC is a private investor-led nonprofit consulting firm established in 1978 that works to retain existing businesses, while stimulating new investment to create more jobs in Saratoga County and the Capital Region of New York.
Visit SEDC online at https://saratogaedc.com