DHCR Announces Approval of $1.6 Million in Economic Development Funds to Grow Businesses

ALBANY, NY (11/04/2009)(readMedia)-- Deborah VanAmerongen, Commissioner of the NYS Division of Housing and Community Renewal (DHCR) today announced $1.6 million in NYS Community Development Block Grant (NYS CDBG) and Small Business Assistance Program awards to support businesses in Chemung, Rensselaer, Wyoming, Genesee, and Oswego Counties and create 129 new jobs for local residents.

Commissioner VanAmerongen said, "New York State's Community Development Block Grant and Small Business Assistance Programs are generating new economic activity and creating jobs in communities across the state. The funds announced today will provide a boost to local economies and help areas throughout the state recover from the economic downturn. "

Chemung County Will Receive $750,000 to Help Schlumberger Technology Create 70 Jobs

Chemung County on behalf of the Village of Horseheads will receive a $750,000 grant to assist in the expansion of Schlumberger Technology Corporation in New York State. Schlumberger Limited is the world's leading oil field services company. Schlumberger intends to build an oil/gas-field service campus on 88 acres in the center of Horseheads Industrial Distribution Park. The proposed project is phase 1 of an expected three-phase $40 million campus responsible for creating up to 400 jobs. The company will provide services and materials to oil and natural gas producers and supply drilling sites within a 300-mile radius, primarily in Pennsylvania's Northern Tier. NYS CDBG funds will be used to help reconstruct the Road E access road, which connects the Industrial Park to I-86. These funds will help leverage over $20 million in private investment and create 70 new jobs, 38 of which will be available to low and moderate-income families.

Rensselaer County Will Receive $406,000 to Help Pacamor Kubar Bearings Expand and Create 26 Jobs

Rensselaer County will receive $406,000 to assist in the expansion of Pacamor Bearings (PKB), a manufacturer of high precision miniature ball bearings. The company is located in Rensselaer Technology Park and is one of only three firms in the northern hemisphere that supplies the U.S. Department of Defense, Federal Aviation Administration, and certain aerospace companies with highly specialized manufacturing products. The NYS CDBG funds will be used to purchase new machinery and equipment and offset working capital expenses. The funds will help leverage over $700,000 in additional investment and create 26 new jobs, 25 of which will be available to low and moderate-income families.

Wyoming County Will Receive $256,000 to Help Marquart Bros., LLC Expand, Create 16 Jobs

Wyoming County will receive a $256,000 grant to help Marquart Bros., LLC, one of Wyoming County's largest potato growers, expand to meet the changing needs and higher standards of the potato chip and snack food industry. NYS CDBG funds will be used to purchase new machinery and equipment that will allow the company to wash, store, sort, and "chip" quality potatoes. The funds will help leverage almost $1.8 million in private investment and create 16 new jobs, 12 of which will be available to low and moderate-income families.

The Town of Pembroke in Genesee County Will Receive $166,000 to Help Yancey's Fancy, Inc. Expand, Create 15 Jobs

The Town of Pembroke will receive $166,000 in NYS CDBG grants to help Yancey's Fancy, Inc., the largest private employer in the town, expand to meet future customer demands. Yancey's Fancy produces high-quality cheeses that are distributed throughout the Northeast and is one of the most significant agribusiness manufacturers in Genesee County. NYS CDBG funds will help the company purchase new equipment and more than double the capacity of its primary product lines. This investment will help leverage an additional $500,000 in private financing and will result in 15 new jobs within two years, 12 of which will be available to low and moderate-income New Yorkers.

Oswego County Will Receive $50,000 to Help Uniforms, Etc. Expand, Meet Increased Demand

Oswego County will receive $50,000 in NYS CDBG Small Business Program resources to help Uniforms Etc. expand in the City of Fulton and meet client demands. The company was established in 1995 and specializes in uniforms and accessories for professionals in the medical, law enforcement, food service, and education industries. The company plans to purchase an additional embroidery equipment machine to service larger contracts they would otherwise have to turn away. NYS CDBG funds will be used for working capital needs during the expansion. The funds will help leverage and additional $85,000 in small business investment and create two new jobs for low and moderate-income families.

This grant is part of the NYS CDBG Small Business Assistance Program awards Governor Paterson announced in July in conjunction with the New York Small Business Task Force. The program makes up to $5 million in NYS CDBG funds available to help local governments support small business and promote entrepreneurship. The funds are used to carry out direct, locally-driven, small-business assistance and micro-enterprise program activities.

The NYS CDBG program is federally funded and administered by DHCR's Office of Community Renewal. The NYS CDBG program provides resources to New York's small communities to enable the development of decent, affordable housing, create suitable living environments, and enhance economic opportunities across the state.

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