Bantam Tools Relocates from California to Peekskill, New York
To encourage Bantam Tools to move from California to New York, Empire State Development has offered up to $600,000 in Excelsior Jobs Program tax credits, which are directly tied to job creation. The project also included acquisition of the site, including the 100-year-old building now transformed into a new facility, and purchase of machinery and equipment.
Bantam Tools CEO Bre Pettis said, "We are very excited to officially open the new Bantam Tools manufacturing space and headquarters in Peekskill, New York. This is our first step in creating a hub of innovation and manufacturing in the Hudson Valley. Manufacturing our desktop CNC machines in the United States and specifically, building them in Peekskill, is a great accomplishment. Moving the company from the San Francisco Bay Area to Peekskill signifies a goal to build a sustainable tech company in the Hudson Valley, in an area with a diverse community, natural beauty and affordable living all within an easy distance to New York City, is something that is very important to helping create happy employees."
Bantam Tools makes desktop CNC machines. Its Desktop PCB Milling Machine is the company's flagship product and is relied on by electrical engineers and mechanical engineers, as well as university labs and makerspaces. The company was originally known as Other Machine Co. and became Bantam Tools in 2017. Bre Pettis, owner of the company, is best known as the co-founder and former CEO of MakerBot Industries, a 3D printer company now owned by Stratasys.
According to Governor Andrew Cuomo’s Office, Bantam Tools moved to Peekskill from Berkeley, California. The company's choice of Peekskill is evidence of the city's continuing revitalization. In August, Governor Cuomo announced that Peekskill won $10 million in state investment as part of the fourth-round Downtown Revitalization Initiative.
"Peekskill's wide ranging assets, from niche markets in arts and entertainment to an award-winning waterfront and parks system, leave no doubt that it's a city on the rise," Governor Cuomo said. "Bantam Tools' expansion will add a new facility and advanced manufacturing jobs to the growing roster of new businesses in Peekskill and further revitalize the Mid-Hudson region."
"Peekskill continues to grow as a thriving art community with a range of businesses and a walkable downtown," said Lieutenant Governor Kathy Hochul. "The decision for Bantam Tools to move to Peekskill from California underscores the momentum of growth in the area and the business-friendly climate in New York State. This new advanced manufacturing facility will create 54 good jobs and strengthen the high-tech industry in the region. We want to make sure young people are inspired and trained for jobs in manufacturing to close the skills gap and ensure businesses have the workforce needed to grow in the Hudson Valley and across the state."
Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, "Bantam Tools' relocation to New York exemplifies the Mid-Hudson's ongoing revitalization as a hub for advanced manufacturing, and we're proud to see it open in Peekskill and add new, good jobs to the city's economy."
Biogen Establishes Research Triangle Park, North Carolina, Gene Therapy Production Campus
Trends in Office and Industrial Parks
34th Annual Corporate Survey & the 16th Annual Consultants Survey
“Made in America” Executive Order to Affect International Companies and FDI
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Another Look at Rural Economies
Pandemic Fuels Data Center Growth