SCHENECTADY, N.Y. – The Metroplex Board of Directors met last evening and approved three projects that will continue Schenectady County’s economic development momentum.
At the County’s Airport Business Park in Glenville, a private investment of over $10 million will be used to construct two new buildings for a growing technology company. P1 Industries will occupy a new 65,000 square foot manufacturing plant and a 25,000 square foot headquarters facility located next door. Site work for the two buildings is underway as all required Town approvals are in place. Construction will be completed in early 2026.
P1 Industries is a major supplier to original equipment manufacturers in the power generation, defense, aerospace and oil/gas industries. The company needs more space as many of these sectors are in a growth mode with the power industry in particular experiencing a period of major investments which some are calling a power infrastructure super cycle.
The new buildings are being constructed by LSI Development Group, LLC, in conjunction with C2 Design Group. P1 Industries has signed a lease for both buildings. LSI Development Group recently completed a new office/warehouse building at the Airport Business Park for Mid-State Industries.
David Dussault, CEO of P1 Industries said, “Our growing company is grateful to its talented and dedicated workforce, and we are excited to continue our rapid growth in dynamic industry sectors by expanding to the Schenectady County Airport Business Park. We thank the County, Metroplex and the Town of Glenville for their strong support.”
Metroplex is providing a $250,000 capital grant plus a PILOT that requires payment of full taxes on the existing tax parcel (vacant land) plus a payment of 50% of the taxes due on the new buildings increasing 5% each year for ten years.
P1 Industries expects to grow from 115 to 175+ employees over the next five years.
Gary Hughes, Chair of the Schenectady County Legislature said, “The Airport Business Park continues to help us create new tax base and jobs at formerly tax-exempt airport property. We thank Ryan Lucey, Michael Roman and the P1 Industries team led by David Dussault for making this $10 million investment in Schenectady County.”
“The Town of Glenville welcomes P1 Industries to the County Airport Business Park,” said Acting Town Supervisor Robert Kirkham. “We worked closely with Metroplex to secure this investment which adds jobs and tax base to our growing community.”
The Airport Business Park already hosts a number of businesses including DSM, SuperPower, C2 Design Group, Bruno Associates and Mid-State Industries in addition to the County’s recently expanded recreational facility/ice rink, a new Aviation facility built by the County for SUNY Schenectady, and a major Navy Operations Support Center.
The Board also approved phase two of the Live-In Schenectady project which involves a group of private investors, business leaders and banks who came together to build 15 new townhomes on Barrett Street in Schenectady. The investment group now plans to invest the proceeds from phase one into as many as 15 additional homes.
Ray Gillen, Metroplex Chair said, “Live-In Schenectady is working and it is achieving the goal of providing new home ownership opportunities in Schenectady. We thank these investors for their innovative approach to home building.”
A grant of $50,000 was also approved for Discover Schenectady. Metroplex and Discover Schenectady have partnered to bring special events and attractions to Schenectady including the Van Gogh exhibit which drew 130,000 to downtown Schenectady, the Mesmerica show at miSci with more than 10,000 visitors to date, the New York Phoenix, Schenectady’s new winning basketball team and others. The new funding will allow Metroplex and Discover Schenectady to continue to pursue new special events and attractions.
Metroplex is the lead economic development agency in Schenectady County’s unified economic development team. It invests a small portion of the County’s sales tax revenue in projects that create new sales tax and jobs while bringing about major new capital infrastructure investments in Schenectady County.