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Clear skies. Low 39F. Winds light and variable..
Clear skies. Low 39F. Winds light and variable.
Electronics manufacturer Canexsys will use about 8,000 square feet of space at the former Newell building in Ogdensburg. Christopher Lenney/Watertown Daily Times
Electronics manufacturer Canexsys will use about 8,000 square feet of space at the former Newell building in Ogdensburg. Christopher Lenney/Watertown Daily Times
OGDENSBURG — An Ogdensburg manufacturing facility is moving into the former Newell building and will receive a quarter-million dollar loan from the St. Lawrence County Industrial Development Agency and a $12,000 tax break.
Canexsys Networks Inc. is planning to move into the 100 Paterson St. building and take up 8,000 square feet. The company plans to create 10 jobs along with the move, according to an IDA document.
Patrick J. Kelly, CEO of the IDA, told the IDA’s board members that the loan they went on to authorize is $260,000. Half of that comes from the IDA’s Local Development Corp. Revolving Loan Fund, and the other half from the St. Lawrence River Valley Redevelopment Agency. Canexsys is planning to spend $1.72 million on the relocation project, IDA documents say.
The IDA’s resolution says that a study determined there won’t be any “significant adverse environmental impact” from the relocation.
Canexsys, according to its website, is an electrical mechanical manufacturer offering turnkey PCB assembly, plastic injection molding and light metal fabrication.
The IDA has spent $2.8 million on restoring the dilapidated building, which has 72,000 square feet of space, Mr. Kelly said. He called the Newell building restoration “a project that’s almost everything for which IDAs were created.”
IDA board member James E. Reagen, who is also a county legislator representing Ogdensburg, said getting the building fixed up, back on the tax rolls and occupied by an industrial tenant is a big step for the city.
“We are helping, fostering, the additional job growth. We’re fostering the redevelopment of a historic ind building and we’ll be getting it back onto the tax base, over time,” he said. “My hat’s off to the staff for all the hard work that they did to make this happen. My hat’s off to the staff at the city of Ogdensburg, who worked closely with us to make this possible. My hat’s off to my fellow board members of the IDA who have made a huge investment in the future of Ogdensburg.”
The Newell manufacturing plant opened in 1902 after being purchased by Ogdensburg businessman Edgar A. Newell. Prior to the manufacturing plant closing in June 2003, the company made picture hangers, screw eyes and screw hooks and performed all of the packaging in-house.
At its peak, Newell Bulldog, also called Newell Hardware, had 350 employees at the city’s manufacturing plant following the purchase of company E.H. Tate out of Boston in 1969.
In other news, the IDA’s Local Development Corp. approved a $20,000 loan to Jared Towne to buy M&M Heating and AC Inc. of Gouverneur. He is currently an employee of the business.
As part of the deal, Mr. Towne has agreed to retain the company’s five jobs. He will also receive a second loan of $20,000 from the Gouverneur Microenterprise Loan Program, the LDC resolution says.
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