Amsterdam Printing and Litho is planning to continue its long tradition in New York’s Mohawk Valley and create nearly 40 new jobs while retaining its existing employee base of 469 associates.
“Amsterdam Printing has helped grow the local economy for more than a century. When its parent company began evaluating where to invest for the future, we made a strong case to company officials and showed them why Upstate New York is a great place to continue to do business,” said Empire State Development Acting President/CEO/Commissioner Howard Zemsky.
Founded by Abraham Singer in 1898, Amsterdam Printing, which has been owned since 1996 by Taylor Corporation, has grown into one of the 20 largest promotional product companies in the United States. With facilities in Amsterdam, Montgomery County and Queensbury, Warren County, today the company is a leader in bringing innovative promotional products to market to help businesses creatively promote their company.
“The State has offered a partnership that will build upon a 115 year tradition in the Mohawk Valley, allowing us to grow and thrive in an ever-changing and improving business climate,” said Tim Broadhead, President, Amsterdam Printing. “New York State’s proactive partnership with Amsterdam Printing provides yet another example of the State’s commitment to nurturing businesses that provide residents of the state with jobs and opportunity that significantly improve their lives and the lives of their families. We are excited about our future and the future of New York State.”
To encourage Amsterdam Printing to invest and remain in its facilities in New York, Empire State Development has offered the company performance-based incentives totaling $3.25 million –a $2.5 million capital grant that is tied to the retention of 469 jobs over eight years; and $750,000 in Excelsior Jobs Program Tax Credits. These credits are tied directly to the creation of 39 new jobs.
Additionally, the New York Power Authority has awarded the company 246 kilowatts of low-cost power, to be used over seven years,through the ReCharge NY Program; and New York State Homes and Community Renewal is providing a $900,000 grant. Amsterdam Printing also plans to invest $10 million in its facility in Amsterdam over the next seven years, committing itself to remain in the Mohawk Valley for years to come rather than exercising its other options.