Governor
George E. Pataki has announced that NanoDynamics
Inc. (www.NanoDynamics.com) — a leading nanotechnology company — will
create 325 new jobs and invest $9.7 million to significantly
expand its operations over the next five years in
Buffalo, while retaining its current Buffalo workforce of 50 jobs.
" NanoDynamics ' decision to expand its presence
in Buffalo and create 325 new, good-paying jobs is
tremendous news for Buffalo 's working families and
the Western New York economy," Governor Pataki
said. "We worked closely with the company and
local officials to help NanoDynamics expand and grow
in Buffalo . We're proud that they chose Buffalo
over other locations across the nation and that they
decided there's no better place to do business than
here in New York ."
"Our tax cuts coupled with our pro-growth,
pro-job creating policies have helped companies in
Buffalo and throughout New York State grow and expand," the
Governor added. "As we continue our fight to
strengthen New York 's business climate, we will
also continue to move forward with the policies that
we know work to create new jobs for New Yorkers."
Senator
Charles E. Schumer said, " NanoDynamics
is one of the most innovative major high tech industries
in Buffalo . Buffalo is the right place and this
was the right package. When I called the ESD, they
went right to work fashioning an offer NanoDynamics
could not refuse. The combination of a first rate-labor
force and alluring package not only keeps the existing
employees in Buffalo , but provides very real opportunities
for hundreds of new jobs."
Senator
Dale Volker said, "We continue to see
a substantial positive economic ripple effect generated
by our public-private collaborations. Governor Pataki,
in partnership with the State Legislature, has continued
to foster smart, long-term economic development policies
in order to revitalize and expand our diverse economy.
Today's announcement is proof positive that these
economic development initiatives are working, and
we must continue to work hard to ensure that our
region is conducive to job creation, job retention
and expanded economic development opportunities.
I would like to thank Governor Pataki for his continued
commitment to our Western New York region."
Senator
Mary Lou Rath said, "This is great
news for Buffalo , and for all of the Western New
York region. The investments and collaborations being
made, are putting the region on the cutting edge
of tomorrow's technological breakthroughs, and with
it, the high paying jobs our area needs to grow our
economy. I am proud to partner with the Governor,
and all my colleagues in government to help make
this happen."
Senator
Bill Stachowski said, "This announcement
is just one more sign that Buffalo , and Erie County
, are continuing to create good paying, high-tech
jobs, by combining our well trained workforce with
State investment. NanoDynamics is playing a key role
in our future development in this area, and I'm very
pleased that they've committed their own resources
to demonstrate their commitment to Western New York
. I hope other firms will join this company in building
their businesses in New York , and they too, will
find the many incentives offered through our Empire
Zone Program."
Assembly
Majority Leader Paul Tokasz said, "Our
role in government is to make New York State a better,
more competitive place to live, work, raise a family
and operate a business. Over the years, we have passed
a number of tax credits and other financial incentives
to encourage new and existing businesses to thrive
in our State. This exciting announcement by NanoDynamics
provides economic momentum for our region and reflects
our ongoing commitment to helping businesses grow
and prosper in Western New York ."
Assemblyman
Robin Schimminger said, "This announcement
by NanoDynamics is great news for Buffalo and Western
New York . I'm particularly pleased that an Assembly
initiative, the State's Empire Zones program, factored
into the company's decision to create these new jobs
in our community. Innovative, technology-based companies
in emerging industries, like NanoDynamics , will
lead the transformation of our economy."
Assemblyman
Mark J.F. Schroeder said, "Nanotechnology
and other high-tech industries produce good-paying
jobs with a great deal of potential for growth, which
is just what Western New York needs. I thank Keith
Blakely and his colleagues at NanoDynamics for investing
in our community."
Erie
County Executive Joel A. Giambra said, "This
is a great day for NanoDynamics and Western New York
. Governor Pataki has again proven that New York
State is a competitive location to build and expand
businesses. His economic policies are the basis for
business revitalization and a renewed faith in the
area's economy."
Buffalo
Mayor Anthony Masiello said, "This
is great news for the City of Buffalo that NanoDynamics
has committed to reinvesting millions of dollars
in our area by expanding its operations and creating
new jobs. There is a real excitement in this region
for economic development opportunities and job growth
and NanoDynamics is one more shining example of the
continuing upsurge in the economic viability of Western
New York . Not only are we growing an existing company,
creating 325 new good-paying jobs, but another by-product
are golf balls that will go straighter and farther
- a real benefit to my poor game."
Buffalo
Niagara Enterprise President and CEO Thomas A Kucharski
said, "Buffalo Niagara's regional
development community recognizes NanoDynamics' potential
for future growth and impact on regional employment.
We responded with a team approach to help assure
that NanoDynamics' potential growth becomes a reality
in the City of Buffalo ."
NanoDynamics
Chief Executive Officer Keith Blakely said, "We
are very appreciative of the efforts of the Governor's
office, as well as the staff of Empire State Development
and other elected officials, including Senator
Charles Schumer, who worked closely with our organization
on this expansion project. NanoDynamics is committed
to commercializing a number of exciting new products
that are enabled by nanotechnology, including an
advanced solid oxide fuel cell for use in both
military and industrial applications, new materials
for the electronics and semiconductor industries,
and, of course, our exciting NDMX golf ball. We are
committed to creating high quality engineering, technical,
and manufacturing jobs here in Western New York and
are very pleased that New York State understands
and is willing to invest in emerging fields such
as fuel cells and nanotechnology."
NanoDynamics is a leading company in the field of
nanotechnology and a manufacturer of superior nanomaterials
that are designed to dramatically improve the form,
function and performance of a wide range of both
industrial and consumer products.
Empire
State Development Chairman Charles A. Gargano said, "Under
Governor Pataki, New York has created a pro-business
environment that is spurring private sector investment
by companies like NanoDynamics . It is this type
of commitment that is helping New York achieve
the Governor's ambitious goal of creating one million
new jobs by the end of the decade. Every day we
work to leverage New York 's resources to attract
private sector investment and to help companies."
New
York State Office of Science, Technology and Academic
Research (NYSTAR) Executive Director Russell W.
Bessette, M.D., said, "Governor Pataki, through
such nationally recognized efforts as the Centers
of Excellence initiative, has fostered the growth
of industrial corporate innovators, such as NanoDynamics
. As a result of the Governor's initiatives, NYSTAR
was able to provide financial support to assist NanoDynamics'
research efforts, and the announcement today is proof
positive that the Governor's initiatives are bearing
fruit. By creating an environment that rewards the
types of research that lead to job creation and economic
growth, the Governor is helping to foster the technological
innovations that will have a significant, long-term
impact on the State's economy."
According to Small Times magazine - a leading business
publication for nanotechnology related companies
- New York State ranks second in the nation in nanotechnology
research and fourth in overall development of nanotechnology.
The magazine has also touted the leading nanotechnology
research being conducted by New York 's world-class
universities.
In consideration of its job commitment and investment
in New York State , NanoDynamics is eligible for
a $1.6 million Empire State Development capital grant.
The company is also eligible to receive Empire Zone
benefits.
For more information please visit www.nanodynamics.com
Contacts:
Virgence Group, LLC ( ir@virgence.com )
Investor Relations for NanoDynamics, Inc.
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