NEW YORK STATE URBAN DEVELOPMENT CORPORATION d/b/a ...

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A. Precisionmatics Capital (X328) April 17, 2012 General Project Plan Grantee: Precisionmatics Co., Inc. (“Precisionmatics” or the “Company”) ESD Investment: A grant of up to $100,000 to be used for a portion of the cost to purchase and install machinery and equipment. Project Location: 100 Helmer Avenue, West Winfield, Herkimer County Proposed Project: Purchase and install new machinery and equipment and make upgrades to the Company’s existing plant. Project Type: Business improvement including the retention and creation of jobs. Regional Council: The Mohawk Valley Regional Council has been made aware of this item. The project predates the Regional Council Initiative. The Incentive Proposal was accepted in December 2010. The project is consistent with the Regional Plan. Employment: Initial employment at time of ESD Incentive Offer 47 Current employment level: 60 Minimum employment through January 1, 2016: 52 Background: Industry – Precisionmatics is a manufacturer of precision machine parts used in the aerospace, firearms, medical and specialized industrial markets and designed according to customer specifications. Company History - Precisionmatics was established in 1970 and is a privately owned company. Located in a 28,000-square-foot building in the town of West Winfield, the Company started out making machinery parts that other companies did not manufacture. Precisionmatics pioneered the use of Computer Numerical Control (“CNC”) equipment in the 1980’s when other companies were using manual machines. CNC equipment refers to automated machine tools that operate on computer programmed commands. The Company remained competitive by specializing in CNC tuning and other high technology models. One of the Company’s early customers was Simmonds Precision of Norwich, New York; today, it is known as GE/Unison, a world leader in aviation technology. Precisionmatics’ top three customers are Goodrich Aerospace, Union Industries and Remington Arms. The Company operates a state of the art facility with over fifty CNC lathes, mill/turn lathes,
A. Precisionmatics Capital (X328) April 17, 2012 and robotic loading type machines. The Company continues to stay on top of emerging technology in the machining field, researching and purchasing new equipment and designs that produce highly accurate and consistent machined parts for customers. The Company utilizes CNC methods and to concentrate on hard to work metals such as stainless steel and high temperature alloys. Ownership – The Company is privately owned. Size – The Company operates out of one 28,000-square-foot facility in New York State. Market – Precisionmatics targets customers in the aerospace, military, firearms, medical, and specialized industries. ESD Involvement – To encourage the Company to proceed with its business improvement plan, ESD provided an incentive proposal of a $100,000 capital grant, which was accepted in December 2010. Competition – The machining services field has become very competitive as many smaller machine manufacturers have begun using CNC equipment. Although using CNC equipment does not guarantee a successful manufacturing facility, the businesses that flourish have access to the correct equipment and systems to support a sufficient inventory and respond to customers fluctuating needs and schedules. Past ESD Support – This is the first ESD grant to the Company. The Project: Completion – November 2011 Activity – Through its work, the Company has been cited by its top customers as one of their strongest suppliers. However, in 2009, Precisionmatics identified a need to improve its competitive edge in the highly demanding and ever changing market for aerospace, firearms, medical and specialized industrial markets. An evaluation of its machinery and facility capabilities revealed shortfalls in specific areas that could affect supplier status. To meet the challenges of competing with other vendors and maintaining its top supplier status, Precisionmatics developed a plan to improve these critical areas. As part of its improvement plan, the Company’s facility was re-organized into cells to manufacture machine parts based on size and customer specifications. In addition, the company has upgraded its facility with new machinery and equipment. Results – Retain 47 existing jobs and create 5 new jobs by January 1, 2016. The Company has already exceeded their goal and has 60 Full Time employees at the project site. 2
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NEW YORK STATE URBAN DEVELOPMENT CO
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II. DISCRETIONARY PROJECTS - Contin
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DRAFT - SUBJECT TO REVIEW AND REVIS
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FOR CONSIDERATION April 17, 2012 TO
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funds used to capitalize Innovate N
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VI. Affirmative Action ESD’s Non-
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Schedule A Innovate NY Fund- Summar
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FOR CONSIDERATION April 17, 2012 TO
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Size: STREDC has a board consisting
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c) a Third Disbursement of an amoun
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April 17, 2012 Regional Council Awa
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Rural Initiative Venture Fund South
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Proposed Project: Establish a regio
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Grantee Contact: Diane Lantz, Execu
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9. ESD may reallocate the project f
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RESOLVED, that the President and Ch
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Proposed Project: Establish a regio
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enhance the effectiveness of ESD’
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8. Grantee will report quarterly on
Page 65 and 66: April 17, 2012 Regional Council Awa
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Page 69 and 70: Market: Real Estate and Industrial/
Page 71 and 72: the Grantee for expenditures incurr
Page 73: 7 April 17, 2012 Chazy (North Count
Page 87 and 88: Regional Council: The Central New Y
Page 89 and 90: Project Team: Origination Ray Lawre
Page 91 and 92: is less than eighty-five percent 85
Page 93 and 94: V. Environmental Review ESD staff h
Page 95 and 96: State Division of the Budget; and b
Page 97 and 98: Huhtamaki MAP Capital Fulton Oswego
Page 99 and 100: Employment: Initial employment at t
Page 101 and 102: 300,000 packed boxes to 700,000 pac
Page 103 and 104: (iv) 40% of the disbursed amount if
Page 105 and 106: VI. Affirmative Action ESD’s Non-
Page 107 and 108: RESOLVED, that the President and Ch
Page 109 and 110: Project Summary Benefit-Cost Evalua
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Page 119 and 120: A. Precisionmatics Capital (X328) A
Page 121 and 122: Baseline Employment A. Precisionmat
Page 123 and 124: B. D4 Capital (X249) April 17, 2012
Page 129 and 130: Strategic Investment Program (Senat
Page 131 and 132: April 17, 2012 Local Assistance - F
Page 133 and 134: April 17, 2012 Strategic Investment
Page 135 and 136: A. GGLDC - Western New York Science
Page 137 and 138: GGLDC - Western New York Science, T
Page 143 and 144: EXHIBIT A STATE ENVIRONMENTAL QUALI
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Page 147 and 148: approximately 24,000 linear feet of
Page 149 and 150: In addition to the site selection c
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Page 153 and 154: The Project will require additional
Page 155 and 156: Findings While it is impossible to
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threshold is reached or when the Pr
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e limited to smaller buildings whic
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In addition to the required alterna
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. Implementation of the recommendat
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Potential for increase in motor veh
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year old age range from the Genesee
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Agricultural Resources Discussion o
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cumulative impacts are impacts on t
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Ancillary/Secondary Growth The Proj
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epresents less than 1% of the total
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utilization of renewable energy res
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CERTIFICATION OF FINDINGS Having co
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B. Town of Islip - Drainage Improve
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Financial Terms and Conditions: Tow
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FOR INFORMATION April 17, 2012 TO:
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CO. VENDOR NAME ORIG CONT DATE REAS
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