Updated 11/29/2012 04:00 PM
Currier Plastics to expand
An Auburn plastics manufacturer says it's not only staying put in the region, it's ready to grow. YNN's Bill Carey says state leaders are pointing to the expansion as another success story in their drive to create Upstate jobs.
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AUBURN, N.Y. -- It was called a groundbreaking, but, in fact, construction is already well underway on a $20 million expansion of Currier Plastics, one of the projects that shared in New York's first round of competitive economic development grants.
The state contribution included a million dollars in tax credits and a $750,000 grant, making it more likely that Currier would spend its own money to build a 55,000 square foot addition to its manufacturing facility.
“This is how we change things. Companies like Currier stay here. They expand. They grow their employees. They really add to the economy,” Lieutenant Governor Robert Duffy said.
“Expanding in New York State has its complexities. Years ago it was not only very difficult, it was not very advantageous. We're absolutely thrilled with the way New York State acted when we said we wanted to expand,” Currier Plastics President John Currier said.
Central New York won the largest share of state economic development monies in a competition among regions in 2011. Currier is the latest of 74 projects that have shared in more than $100 million in state incentives.
“This is a great project helping a local company continue to innovate, grow and expand and serve new markets. And those are the kinds of projects we need if we are going to continue to rebuild our regional economy,” said CenterState CEO President Robert Simpson.
In the end, the state goal is creation of jobs. Here at Currier, an extra 50 jobs, adding about $50 million to local payroll over the next 10 years.
Duffy said, “That turns over four or five different times. In gasoline and food and other businesses here. And it is a commitment by a great company to stay and grow here.”
Already regional economic development councils are at work on a new round of proposals for 2012. Another $762 million in state incentives are at stake.
Work on the expanded Currier Plastics plant should be finished sometime in 2013. Additional work, including renovations to the current plant, are expected to continue through 2016.