The Saratoga Economic Development Corp. (SEDC) presented to the Clifton Park IDA in December a $21.5 million project by a Minnesota-based healthcare developer to expand Ellis Medicine’s surgery service center and related professional medical practices at its facility in Clifton Park.
According to SEDC, the investment will retain 36 jobs and add 35 new jobs. The company’s expansion in Saratoga County will also add over $2.15 million in wages to the market.
At the start of 2018, SEDC and MJ Properties of Clifton Park announced the launch of the mixed-use commercial Synergy Park, aimed at boosting inventory for a range of commercial business investments. The expansion project will occur in that corporate commerce and light industrial park, located at Route 9 and Kinns Road.
“Since announcing our five-year Advance Saratoga strategy to grow more jobs and wages, we have been touting the market demand of ready to use building inventory in key locations,” said SEDC President and CEO Dennis Brobston. “We are pleased to see proven market developers and our partners in key communities respond to keep Saratoga County at the forefront of economic opportunity.
“We are pleased to work with Mark Rekucki, the Clifton Park Town Board and planners and its IDA to support this expansive investment at a strategic location between two exits of the Northway and fronting Route 9.”
SEDC officials said the future square footage of buildings in the park could exceed 1.2 million. To support the $2.5 million, phase one investment toward development of the road and utility infrastructure, the Clifton Park IDA approved a freeze of the tax assessment for the entire parcel until development substantially occurs.
A sales tax exemption of $105,000 on construction materials and a mortgage tax exemption of $7,500 on the debt toward the investment were also approved. SEDC and MJ Properties will co-promote the newly developed space to strategic commercial office, professional services and light industrial users, along with accessory service businesses.
The Ellis Surgery Center expansion is a $21.4 million project will spur 35 new jobs, 160 construction jobs and over $2.15 million in new local healthcare wages, SEDC said.
Clifton Park Healthcare Investors LLC, part of MedCraft Healthcare Real Estate of Minneapolis, Minn., will enter into a ground lease agreement for adjacent land currently owned by Ellis Hospital. It will deliver a 61,800-square-foot building consisting of a first-floor ambulatory surgery center, with second- and third-floor space supporting professional medical service practices tied to the surgeries being performed there. The project investment includes installation of health equipment, machinery and office furnishings.
SEDC-prepared incentives approved by the Clifton Park IDA provide estimated real property tax abatements of $10.8 million. Sales tax exemptions are valued at $899,223 on the project materials. Mortgage tax exemptions of $120,432 on project debt were also granted.
“Economic development encompasses a broad array of quality of life measures that retain and attract people to our communities,” said Brobston. “Healthcare has increasingly meant being nearer patient centers, delivery of services that allow people to be in and out the same day, and updated facilities that attract talented providers.
“Similar to supporting strong education, workforce skills and ready to use commercial sites, access to quality healthcare and diverse housing options helps attract and retain talent and promote growth in Saratoga County and the capital region.”
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. Its mission is to create jobs, diversify the tax base and improve the quality of life for residents. SEDC accomplishes this through the retention of existing business, attraction of new industry, and improvement of overall competitiveness. Celebrating 40 years in 2018, SEDC continues to work with nearly 300 employers.