Schenectady, N.Y., October 13, 2010 — The City of Schenectady Industrial Development Agency (IDA) met earlier today and approved plans by Pace Analytical Services of Minneapolis, Minnesota, to purchase Northeast Analytical, Inc. located at 2190 Technology Drive in the Tech Drive Business Park in Schenectady. The new owners plan to make significant investments in capital and infrastructure in the Schenectady operation adding 20 new jobs in the next two years. The sale will be finalized by the end of October with the local facility becoming part of the Pace Analytical Lab network by early November.
Pace Analytical is the second largest environmental testing lab company in the United States with a thirty-year track record in the environmental industry. The company provides analytical support to major oil, chemical and manufacturing companies through its nationwide network of labs and service centers.
Steve Vanderboom, CEO of Pace Analytical, issued this statement: “This acquisition complements our specialty services capabilities. I am excited about expanding our full service offering into the northeast. Our presence in New York will enable Pace to better serve our corporate accounts as well as the local market.”
Denise Brucker, Chair of the Schenectady IDA commented, “We welcome Pace Analytical to Schenectady. The company is planning to invest and grow here and that is outstanding news for Schenectady.”
Schenectady Mayor Brian U. Stratton said, “This company is national leader in environmental work, and we welcome them to Schenectady.”
Susan E. Savage, Chair of the Schenectady County Legislature said, “We are happy that an industry leader like Pace Analytical is investing in our community and creating 20 new jobs in Schenectady County. We welcome them and wish them luck in their new facility.”
Northeast Analytical is an environmental testing laboratory that originally specialized in PCB analysis. The company now provides a broad array of analytical services including metals, inorganics, volatile organic compounds and semi-volatiles. NEA currently employs 43 chemists, technicians and administrators in Schenectady.
NEA was the lead laboratory for the 2009 Hudson River dredge program and was the testing lab for the USEPA WTC test and clean program after 9/11. Over the years NEA has played a major role in many large local remediation and dredge projects and several brownfields redevelopment projects in NY. NEA has been a vital member of the business community and has helped with the revitalization of Schenectady. “We look forward to our merger with Pace and our continued growth in Schenectady,” said the President and founder of NEA Bob Wagner.
Pace Analytical plans significant investment in new equipment and plans to add 20 new jobs in Schenectady during the next two years. The current facility is 15,120 square feet with room for on-site expansion.
The City of Schenectady Industrial Development Agency (IDA) met earlier today and approved Pace Analytical project conferring an exemption from the mortgage recording tax and sales tax on future building improvements to the new owners. The IDA also agreed to allow the new owners to assume the existing payment in lieu of tax agreement which is in year twelve of a 15 year agreement resulting in a tax payment of 80% of the assessed value of the building increasing by 5% each year until reaching full value in 2014.
The Tech Drive Business Park is home to Fortitech, Astria Solutions, Starfire, M&P Labs, Frank Murken Products and Cyclics. For more information, see www.pacelabs.com.