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

Regional Council: The Central New York Regional Council has been made aware of this
item. This project predates the Regional Council Initiative. The
Incentive Offer was accepted January 2010. The project is consistent
with the Regional Plan.
Employment: Initial employment at time of ESD offer: 631
Current employment level 631
Minimum employment through January 1, 2016: 631
II. Project Cost and Financing Sources
Financing Uses Amount
Machinery & Equipment $5,200,000
Construction 600,000
Engineering 50,000
Training 50,000
Soft Costs 300,000
Total Project Costs $6,200,000
Financing Sources Amount Percent
ESD-Grant 500,000 8%
Company Equity 5,700,000 92%
Total Project Financing $6,200,000 100%
III. Project Description
A. Company
Industry: Consumer packaging products used in food, beverage, retail, and
other non-food industries. The Fulton facility produces a variety of paper
cups, containers, and container lids for the frozen desert and food
industries.
Company History: The Fulton facility has been in operation since 1886, originally operating
as the Oswego Falls Pulp and Paper Company and in 1917 as the Sealright
Company. In 1998, Huhtamaki purchased Sealright.
Ownership: Public company traded on the Helsinki stock exchange
Size: Huhtamaki has operations in Europe, North and South America, Asia,
Oceania, and Africa. Huhtamaki has 64 production facilities in 36