Tech Valley Communications, a provider of data and high-speed internet services in Upstate New York, will expand its operations into new corporate headquarters located in downtown Albany, creating 60 full-time jobs.
Lieutenant Governor Robert Duffy said: "This is a home-grown company that has been extremely successful in the Capital Region and due to the efforts of the administration, Empire State Development, and Albany County, will remain in the city it belongs."
"With each fiber mile we build we are getting closer to our objective of constructing the leading fiber footprint in the Northeastern United States," said Kevin O'Connor, CEO, Tech Valley Communications. "As a business we must grow to accommodate expansion of the fiber optic infrastructure. We value the workforce in downtown Albany and are glad to avail ourselves of its local talent. With help from the state, we'll be able to grow our business even faster."
As an incentive to keeping the company in the Albany area Empire State Development provided a $250,000 grant to offset the cost of consolidating two local TVC operations into a 10-year lease for a 15,800-square-foot facility.
In addition to the assistance from the State, the Company was offered $100,000 from Albany County to incentivize the expansion and keep TVC headquartered in downtown Albany.
Albany County Executive Dan McCoy said, "The Albany County Industrial Development Agency, through innovative financing, has been able to provide Tech Valley Communications with the necessary infrastructure for them to continue and grow their operations in Albany County.
"This significant investment by Tech Valley Communications is a direct result of our efforts to ensure businesses have the tools and resources they need to be successful and create much-needed jobs for New Yorkers," said Empire State Development President, CEO & Commissioner Kenneth Adams. "The fact that this growing, cutting-edge telecommunications company was founded in downtown Albany and will grow here is a huge win for the local workforce. It further demonstrates that New York's Tech Valley has the critical mass of talent and infrastructure to attract the companies, investments and jobs that strengthen the regional economy."