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Ulster County Officials Announce Business Retention Plan

By Dave Lucas

http://stream.publicbroadcasting.net/production/mp3/wamc/local-wamc-996093.mp3

Kingston, NY – Officials in Ulster County today announced a plan to keep two County manufacturers in New York State - retaining over 100 jobs and creating new positions. The deal leverages over $12 million in private sector investment to redevelop a former vacant industrial building in the City of Kingston. WAMC's Hudson Valley Bureau Chief Dave Lucas has more...

Stavo Industries and Wolf-Tec, Inc. are partnering to redevelop 132 Flatbush Avenue in Kingston, New York. The project will subdivide the property formerly occupied by Colony Liquor into two separate lots and two separate manufacturing spaces. Stavo Industries manufactures liquid filtration equipment for the food, beverage and pharmaceutical industries. Wolf-Tec develops, manufactures and distributes highly automated industrial food processing equipment. Both businesses sell products to a world-wide customer base. The two companies had both received aggressive offers from other states attempting to entice them to relocate their operations. Wolf-Tec currently has operations in Georgia in Germany.

Empire State Development Corporation has offered Wolf-Tec a capital grant of $350,000 and Stavo a capital grant of $300,000 to maintain operations in New York State. In addition, both companies are Empire Zone Certified and the proposed new location at 132 Flatbush Avenue is within the Kingston Ulster Empire Zone and will provide Empire Zone benefits to each company, dependent upon both job creation and investment performance.

Central Hudson's John Maserjian says the utility has offered both companies economic development assistance: incentives include building revitalization grants of $100,000 for each company, job creation grants of $1,000 per job for each high-paying job created and $62,500 in infrastructure assistance for the site.

Ulster County Executive Mike Hein says this move is a huge first step: "This is an important day for the City of Kingston as well as all of Ulster County. Stavo and Wolf-Tec represent some of the best of Ulster County manufacturing and I am pleased that Ulster County was able to coordinate a competitive package of benefits to retain and grow them here. Governor Cuomo's ability to leverage New York State assistance to keep New York companies here and help them grow has been instrumental. By keeping taxes down and streamlining Ulster County's economic development process, we are working to create a more business friendly environment for Stavo, Wolf-Tec and all Ulster County employers."

The Ulster County IDA has offered each company a cash grant of $50,000 as an incentive to remain in Ulster County. In addition, the Ulster County IDA may provide certain tax benefits based upon the applications filed today. Plans for site plan approval, subdivision and variances were filed today with the City of Kingston Planning Board for review and approval.