State Grant Helps Local Company Expand, Create New Jobs

ALBANY, NY (10/31/2007)(readMedia)-- Governor Eliot Spitzer and Division of Housing and Community Renewal Commissioner Deborah VanAmerongen today announced a $516,000 grant to help Energy-Onix Broadcast Equipment Co, Inc. expand their product line and services, creating 23 new jobs and retaining 21.

“Energy-Onix has been located in Valatie since they first opened their doors in 1987 and now plan an expansion that will create 23 new jobs, all of which will offer company-paid health benefits,” Spitzer said. “This is a company that takes its responsibility to the local community seriously, and we are proud to partner with them.”

Spitzer said the State grant is especially significant because it will allow the owners to leverage an additional $750,000 for the expansion project.

Commissioner VanAmerongen said “Governor Spitzer has made it very clear from his first day in office that reviving the upstate economy by helping businesses expand and create jobs is a top priority for his administration. This grant, and the expansion of Energy-Onix, will provide a benefit to the entire Capital region.”

Bernard Wise, President, Energy-Onix, said "our partnership with State and local government has been a great benefit. Thanks to the hard work of Valatie Mayor Gary Strevell and the NYS Office For Small Cities, Energy-Onix is able to expand our operations and provide our community with new jobs."

The funds will come from a Community Development Block Grant administrated by the State’s Office for Small Cities (OFSC). Funding will be used to offset operating expenses and purchase inventory and equipment.

When completed, the expansion will allow Energy-Onix to offer new technology known as Digital Radio Express (DRE), which is used by existing radio stations to provide digital signals to its listeners.

The grant was approved by the State’s Housing Trust Fund Corporation (HTFC) a public benefit corporation which is chaired by Commissioner VanAmerongen and receives staff and administrative support from DHCR. The HTFC was created in 1985 and approves the award of grants, loans and tax credits through a number of state and federally funded programs.

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