NYPA, IDA funding nylon threading plant in Massena that could hire 18
MASSENA -- The New York Power Authority is giving $370,000 to a nylon threading manufacturer that plans to open a business in Massena.
The cash will go to AmTech Yarns to support establishing a new $3.7 million manufacturing facility in Massena, St. Lawrence County, creating 18 new full-time jobs over the next seven years, according to Gov. Andrew Cuomo's office.The facility, to be located in the Massena Industrial Park in a building owned and redeveloped by the St. Lawrence River Valley Redevelopment Agency and St. Lawrence County Industrial Development Agency, would make AmTech Yarns the only North American producer of nylon threading, the governor's office said.
The St. Lawrence River Valley Redevelopment Agency led the marketing efforts to attract AmTech and bring them to Massena and is packaging over $1 million in loan and lease financing assistance in support of the project, according to the governor's office.
"Massena, with its low-cost power and talented workforce, is an ideal location for a manufacturing company like AmTech. We are thrilled that AmTech is making this investment and are excited to work on more projects like this one with the Power Authority through the Power Proceeds and St. Lawrence County Economic Development Power programs," St. Lawrence River Valley Redevelopment Agency CEO Patrick J. Kelly said in a prepared statement from the governor's office.
The funding comes from the RechargeNY program "provides qualifying businesses and non-profit organizations with discounted NYPA power in exchange for commitments to retain or create jobs in New York State," the governor's office said.