$5 million in state funding sought; 100 jobs could be created
BY STEPHEN WILLIAMS, The Daily Gazette
ROTTERDAM — Plans for a $66 million bio-pharmaceutical factory in Rotterdam are among the projects being recommended for state grant assistance by the Capital Region Economic Development Council.
The council said in a report released Tuesday that it is requesting a $5 million Empire State Development grant toward the potential PiSA Biopharm manufacturing pilot plant in the Rotterdam Corporate Park. It is the most-expensive recommended project in the eight-county region, and the remaining $61 million would come from private equity. If the plans were to go forward, 100 new jobs could be created.
The 10 Regional Economic Development Councils across the state on Tuesday released midyear reports that discussed their progress in previous projects and highlighted some of the most significant projects they hope to get funding for this year. The state will be awarded $750 million through a competitive process that will conclude in December.
In the Capital Region, the 22 proposed priority projects included two each in Schenectady and Saratoga counties. The Mohawk Valley REDC is seeking grants for 23 priority projects, including several in Montgomery, Fulton and Schoharie counties.
To read the complete article on The Daily Gazette website, click here.