Central Hudson aiding Ceres’ relocation
TOWN OF ULSTER, N.Y. >> Central Hudson Gas & Electric Corp. says it will give a $125,000 grant to Ceres Technologies to help Ceres consolidate its Saugerties and Rhinebeck operations into space at the TechCity business park in the town of Ulster.
Central Hudson says $100,000 of the grant money will go toward building revitalization efforts and $25,000 will be for job retention and expansion. Utility spokesman John Maserjian said the money will be given to Ceres as a reimbursement, after the company makes promised improvements, rather than up front.
Maserjian said the funding is not related to Ceres’ recently withdrawn request for $100,000 from the Ulster County Industrial Development Agency to pay for an independent electrical installation at TechCity.
“The grant to Ceres was approved prior to any of the issues that developed at the TechCity location,” Maserjian said. “This is separate from that.”
Ceres’ request to the IDA was the result of the company’s fear that Central Hudson could shut off power to TechCity, site of the former IBM-Kingston plan, because TechCity has not been paying its electric bills.
Ceres — which designs and creates equipment for the semiconductor, transportation, medical device, food, energy and general manufacturing sectors — recently dropped its bid for IDA funding after conflictof-interest questions arose over company Vice President Vincent Cozzolino also being an official with Galileo Technologies, which was hired by the Industrial Development Agency to handle administrative duties.
Maserjian would not comment about TechCity receiving at least two notices that electricity would be shut off, including in the building that Ceres would use for its consolidated operation.
Ceres plans to move to TechCity 140 employees from the company’s Saugerties facility and another 40 from its North Park Metal Works operation in Rhinebeck.
Ceres President Kevin Brady, in letters to Ulster County and the town of Ulster, threatened to move the company out of the county if funding for an independent electrical system could not be secured.
Brady could not be reached for comment on Monday.