Transfinder's President Announces $4.2 Million Investment in State Street Building Renovation and Job Creation

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Antonio Civitella

• 440 State Street Building Renovation

SCHENECTADY, NY (06/09/2011)(readMedia)-- Antonio Civitella, founder, president & CEO of Transfinder Corporation today announced at a press conference held at Proctors GE Theater that he is investing $4.2 million to renovate 440 State Street for the company's new headquarters. Located near Proctors and purchased from Proctors, the building will undergo a major transformation to enable the company to accommodate up to 125 high-tech employees. At the same time, the renovation will preserve some of the building's original architectural features in keeping with the classic look of the Proctors Block in downtown Schenectady.

According to Civitella, "This is another milestone for Transfinder as we continue our growth toward market leadership in our field. The past three years have been remarkable for us as we experienced double-digit revenue growth, and expanded our organization from 32 employees to our current level of 54, with continuous growth expected in the next few years. We grew at this rate to serve an expanding client base that now numbers more than 1,300 school districts in North America. While we looked far and wide for a new headquarters that could accommodate us, we did want to remain in the city and be a major contributor to the revitalization that is taking place here. So we are delighted to make this announcement today."

"Thanks Transfinder and Mr. Civitella for your commitment to our community and choosing to invest in the growth of your tech business here in Schenectady County," said Gary Hughes, Ranking Member of the County Legislature's Committee on Economic Development. "This is further evidence that our effort to attract new jobs and investment to our community is paying off. I want to congratulate our economic development team for this win and thank them for their efforts."

Acting Mayor Gary McCarthy said, "Transfinder is a national company that could have located its corporate headquarters anywhere. By working closely with the County's economic development team at Metroplex, we were able to bring this major new investment to downtown Schenectady. This project will help us continue the forward progress we are making every day to make Schenectady a leader in technology and new jobs."

Ray Gillen, Commissioner of Economic Development for Schenectady County and Chair of Metroplex said, "Filling 440 State Street with a new corporate headquarters for Transfinder is a great win for Schenectady County. This exciting new project will continue our efforts to bring new tech jobs and new investments to our community."

Metroplex is providing a $60,000 grant to help restore the façade at 440 State Street as well as a $150,000 grant toward building renovation costs.

The project architect is James T. Pollard, principal of RE4ORM Architecture, which is located in downtown Schenectady. RE4ORM is responsible for some of the latest renovations in the city, including the Bow Tie theater complex, the new Center City and the expansion of the Schenectady Library, which is in the works. The contractor is Sonny Bonacio, owner of Bonacio Construction of Saratoga Springs. Bonacio Construction is responsible for building the Market Center at Railroad Place in the heart of downtown Saratoga Springs. Mr. Bonacio's firm recently completed renovations to the Foster Building in downtown Schenectady.

About Transfinder

Founded in 1988 and headquartered in Schenectady, New York, Transfinder is a national leader in student transportation management systems and services, offering routing and scheduling solutions for optimal transportation logistics. A business partner of Pitney Bowes Business Insight – MapInfo, Transfinder applies MapInfo's industry-leading mapping technology and database management to deliver superior transportation and logistics management solutions. Transfinder products allow school districts to manage bus routes, provide safe and efficient student transportation, and access a wealth of critical district information. For more information, visit www.transfinder.com.

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