Sono-Tek Corporation Announces Business Development Program to Expand Milton, NY Facilities
MILTON, N.Y., July 30, 2019 /PRNewswire/ -- Sono-Tek Corporation (OTCQX: SOTK), the leading developer and manufacturer of ultrasonic coating systems, announced a business development project to expand its Milton, NY facilities with participation and financial incentives from Empire State Development (ESD) and Central Hudson Gas & Electric grants.
The proposed expansion planned by Sono-Tek will consist of renovations to change existing warehouse / office space over to high-tech manufacturing facilities. As part of this expansion, several pieces of manufacturing equipment will be purchased, including a precision laser welder, advanced Mill / CNC machinery, and additional equipment to support a new 6-axis robotics product line.
The total project is anticipated to cost between $550,000 and $650,000, and result in the creation of six new, full-time employment positions in various high-tech areas of the Company.
Upon successful implementation of the project, ESD has committed to $150,000 of tax credit incentives for Sono-Tek over a ten-year period, and Central Hudson has committed to a $100,000 grant upon project completion.
Sono-Tek's President Steve Harshbarger, commented, "This is an exciting time in the history of Sono-Tek. We anticipate company growth in conjunction with expansion of our knowledge-based workforce. Participation from ESD and Central Hudson has allowed Sono-Tek to focus this expansion locally to the Hudson Valley. Upon completion of this expansion, Sono-Tek expects that several high-tech manufacturing operations that we presently outsource will be completed in our New York facility."
Central Hudson is proud to support companies that invest in local business expansion and create job growth in the Hudson Valley through our suite of Economic Development Programs," said Anthony Campagiorni, Vice President of Customer Services and Regulatory Affairs. "Sono-Tek's investment in growing local, high-tech manufacturing jobs demonstrates its commitment to strengthening the economy in the Hudson Valley."
Empire State Development President, CEO and Commissioner Howard Zemsky said, "New York encourages the expansion of manufacturing in innovative, high-tech industries, and Sono-Tek's larger facility will allow the company to service more companies around the world while keeping local jobs and creating new ones."
About Empire State Development
Empire State Development (ESD) is New York's chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo's Regional Economic Development Councils and the marketing of "I LOVE NEW YORK," the State's iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.
About Central Hudson
Central Hudson Gas & Electric Corporation, a subsidiary of Fortis Inc., is an energy delivery company headquartered in Poughkeepsie, New York. The utility serves approximately 300,000 electric and 80,000 natural gas customers in eight counties of New York State's Mid‑Hudson River Valley, delivering natural gas and electricity in a 2,600-square-mile service territory that extends north from the suburbs of metropolitan New York City to the Capital District around Albany. Central Hudson supports local community service and business organizations, and also offers value-added products and services, including energy efficiency and economic development programs. For more information visit www.CentralHudson.com.
About Sono-Tek Corporation
Sono-Tek is the world leader in the development and application of liquid ultrasonic atomization technology into nozzle systems and spraying and coating application systems. Compared to conventional pressure spraying methods, the Company's ultrasonic nozzles do not clog, reduce liquid usage, waste, and environmental impact while achieving much more precise, uniform, thin film coatings. Sono-Tek is continually developing new applications for its unique technology, replacing wasteful practices in a world that is growing ever more environmentally sensitive.
For more information about Sono-Tek, please visit www.sono-tek.com.
SOURCE Sono-Tek Corporation
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