Schenectady, N.Y., June 8, 2010 – Schenectady County officials today announced that Argo Turboserve Corporation (ATC), a leading engineering and supply chain management company with facilities in fourteen states, will occupy a new 22,000 square foot tech office and lab facility now under construction at the Broadway Commerce Park in downtown Schenectady. The new project represents a $5 million investment in Schenectady County.
“ATC is a world class company that could have built this facility anyplace, but they chose Schenectady County for this $5 million investment,” said Susan E. Savage, Chair of the Schenectady County Legislature. “This adds to the long list of successes achieved by the County’s economic development team as we continue to attract new jobs and new investment to our community.”
“The expansion of ATC in Schenectady County is a great fit for the Capital Region, which is already a leader in power generation technologies,” said Empire State Development Chairman and CEO Dennis M. Mullen. “We believe the company’s commitment to the area is a testament to all the region has to offer—an educated workforce, a strategic location and its many academic and research institutions—making it an attractive place to continue to do business. Governor Paterson and I are pleased to support the collaborative efforts that have resulted in the retention of ATC, the creation of high paying engineering jobs and the attraction of significant investment in Schenectady County that will no doubt spur future growth and prosperity for the entire Capital Region.”
Clyde D. Keaton, President and CEO of ATC said, “We are very excited to expand ATC’s operations in the City of Schenectady. We believe the vast technical talent pool in the greater Schenectady area will enable ATC to continue to support its aggressive growth strategy.
Mayor Brian U. Stratton said, “This expansion is great news for Schenectady as it continues the success we are having at the Broadway Commerce Park. We welcome ATC’s new building and major investment as we keep moving Schenectady forward in partnership with the County and Metroplex.”
ATC specializes in helping its major original equipment manufacturers (OEM’s) and government agency clients manage their supply chains for maximum efficiency. The company provides parts, equipment, services, testing and engineering solutions to the Industrial, Aerospace and Utility markets.
The company considered both New Jersey and the Knoxville, Tennessee area before deciding to proceed with the Schenectady expansion. ATC currently has offices on Erie Boulevard that support the nuclear and power generation markets.
The new Schenectady facility will be nearly four times larger than the current operation. The company expects employment to expand from 13 to 30-plus over the next three years.
ATC is headquartered in Lyndhurst, New Jersey. The company also has operations in Tennessee, Illinois, Ohio, Georgia, Louisiana, Texas, Florida, Virginia, Pennsylvania, Massachusetts, New York, Connecticut and California, as well as in Italy.
In Schenectady, the company will focus on power generation technologies especially the nuclear power industry which is growing rapidly. Schenectady County has long been known for its leadership position in power generation and is home to GE Energy’s downtown campus, GE’s Global Research Center, GE’s Renewable Energy Headquarters and a new advanced battery manufacturing plant that will start construction this year.
The new building to be occupied by ATC is being constructed by Plank Construction Services, LLC of Schenectady. The owner and developer is Highbridge Development. ATC has signed a long-term to occupy the new 22,000 square foot building. Highbridge is investing $3.4 million in the project, the latest new construction to occur at the Broadway Commerce Park, an innovative in-city business park located just off I-890 at the Broadway entrance to downtown Schenectady. ATC will invest another $1.5 million in the project.
Empire State Development is providing a $100,000 capital grant and the Schenectady Metroplex Development Authority is providing a $150,000 grant toward the $5 million cost of the project.
Ray Gillen, Metroplex Chair and Commissioner of Economic Development and Planning in Schenectady County said, “We welcome and thank ATC for their investment. This project adds to Schenectady’s world–class position as a leader in creating new energy solutions. We also appreciate Empire State Development’s efforts to help secure this new investment for our community.”
More information may be found at www.argoturbo.com.