BALLSTON SPA - The Saratoga Economic Development Corporation (SEDC) and the Saratoga County Industrial Development Agency (IDA) is helping Core Tech Industrial Corp. plan for a proposed expansion that would cost $2 Million. Core Tech is seeking $418,000 in tax breaks through the IDA, according to SEDC president Denis Brobston. The SEDC is assisting Core Tech through the application process in Ballston.
Core Tech, located at 2 McCrea Hill Rd. in Ballston Spa, is a manufacturing business that develops and engineers parts for the power market. They have built gas-fired, solar and wind turbines for General Electric and others.
Core Tech is planning to build a 30,000 square-foot detached manufacturing facility in Corporate Tech Park, in the lot adjacent to Core Tech’s current site.
“So this is a retention of the existing company because if they don’t keep investing here then they invest somewhere else,” said Brobston. He adds that Core Tech has been approached aggressively from states throughout the country pitching to have expansion done in a new location.
Core Tech currently leases out one-fourth of its existing facility to another company. The lease is for 10 years.
“The way that their growth has taken place they need 30,000 square feet of manufacturing space and there’s a lot right next to them that they were able to get control of,” said Brobston.
The expansion would bring Core Tech’s current employment from 48 to 68. According to Brobston these are in the $70,000
