Two industry-leading companies will expand operations with the opening of production centers in Syracuse, New York. The projects are expected to create more than 400 jobs combined.
JMA Wireless will move manufacturing of 5G equipment from Texas to the historic Coyne Building in the southeast gateway to downtown Syracuse.
In addition, Bankers Health Group will relocate and consolidate several of their Central New York operations in Syracuse to a newly constructed facility located at 300-324 Spencer Street.
Albert Crawford, Founder, Chairman & CEO of Bankers Healthcare Group said, "By partnering with the state, we not only have the ability to expand our company footprint but create more than 300 new jobs in Central New York. Our company headquarters have been in downtown Syracuse for nearly two decades, and it's an honor to play a key role in attracting top talent, contributing to the local economy, and supporting the redevelopment of the Inner Harbor."
Spencer Street will construct and furnish a 100,000 square-foot facility at 300-324 Spencer Street in Syracuse to house Bankers Healthcare Group and Capital Collection Management. The $35 million project will include the demolition and remediation of the existing property, and the construction and full equipping and furnishing of the new facility. The combined initiative will result in the creation of 330 new jobs. Bankers Health Group employees will remain at their current office locations in Franklin Square and Armory Square; Capital Collection Management employees will continue working from the company's Armory Square location. Bankers Healthcare Group expects that the project will be completed by the end of 2023.
New York State is assisting the project with a total investment of $11 million, which includes a $4 million capital grant and $7 million in Excelsior Jobs Tax Credits.
"We're laser-focused on bringing major companies into Central New York and this announcement demonstrates our strategic, regionally based approach to economic development is bringing tangible results," Governor Andrew Cuomo said. "By expanding into Central New York, these two companies will help transform the region, create new employment opportunities and generate even more economic momentum across upstate New York."
"Syracuse is continuing to grow with new businesses and serve as a hub for innovation," said Lieutenant Governor Kathy Hochul. "The expansion of Bankers Healthcare Group and JMA Wireless will add hundreds of jobs in the area and further advance the high-tech industry in Central New York. These investments will strengthen the region's economy, further revitalize the area, and create new opportunities for New Yorkers."
JMA, a global innovator of 4G and 5G software-based technology, will invest $25 million to create a 5G high tech manufacturing center in downtown Syracuse. JMA will renovate the former Coyne Building and others located at Cortland Ave on the south end of Syracuse's downtown. The 5G campus, spanning a city block, will manufacture the world's first indoor 5G millimeter wave radio system and act as a showcase for 5G driven experiences.