SYRACUSE -- Dozens of jobs could be created across the state thanks to grant money that will help five Upstate New York companies grow. The funding was secured by State Assemblyman Bill Magnarelli (D).
Altogether, the projects being developed by the companies could create as many as 111 jobs and tens of millions of dollars in new revenue for the region over the next five years. The Commercialization Assistance Program (CAP) awards total $246,475 and are designed to promote the commercialization of innovative green and clean technologies.
"CAP is a great opportunity for local entrepreneurs who focus on environmentally friendly products to stay in the Central Upstate New York area and commercialize their products," said Magnarelli. "The renewed emphasis on green and clean products and services will allow Syracuse and its surrounding area to continue to distinguish itself as a leader in the field of environmentally friendly product production."
Here are the five CAP award-winning companies and their projects:
ACT Bioenergy (Schenectady, NY)
Potential jobs created/retained: 30-50 within 5 years
Awarded $50,000
Orthogonal (Ithaca, NY)
Potential jobs created/retained: 25
Awarded $50,000
Cameron Manufacturing & Design (Horseheads, NY)
Potential jobs created/retained: 5 to 8
Awarded $46,475
Vette Corp. (Ontario, NY)
Potential jobs created/retained: 32
Awarded $50,000
e2e Materials (Ithaca, NY)
Potential jobs created/retained: 4
Awarded $50,000
The Commercialization Assistance Program has awarded a total of more than $1 million to 21 Upstate companies so far. The grants target projects that commercialize new products and services in the fields of indoor environmental quality, water resources, and clean and renewable energy.
"For today's CAP award recipients, these grants will help to bridge the gap from a smart idea to a great new product and, ultimately, a successful generator of jobs and revenue for the region," said Robert Simpson, President, CenterState CEO. "Together with Assemblyman Magnarelli and SyracuseCoE, we are proud of the jobs and economic impact that this program has already achieved and the promise it holds for the region's future."
To date, CAP has created or retained more than 152 green and clean technology jobs in New York.
