In the past week, Schenectady County’s Metroplex Authority announced two new areas of growth to the region: the move of Malta-based Advanced Energy Conversion, LLC, to the city, and the expansion of the Crosstown Plaza Ocean State Job Lot store.
I guess when we decided we needed more space we started looking around and it seemed like the best opportunity for us, said David A. Torrey, Chief Technology Officer at Advanced Energy Conversion. `Beyond just the space issue it’s going to be nice to be a lot closer to Union College.`
Torrey is on the Union Graduate College advisory board where he teaches three graduate courses in the electrical engineering program.
`One of my engineers also teaches in that program, so I think by being closer to Union, there will be some additional linkages that will naturally arise from that,` said Torrey. `It would be a lot more convenient to make use of interns and perhaps start setting up some kind of project program for both undergraduate and graduate students.`
Torrey listed other benefits of relocating, including closer proximity to customers based out of Oneonta and Niskayuna, and it will also provide a shorter commute for many of the company’s employees.
Advanced Energy Conversion grew out of the electric power-engineering program at RPI. For the past five years, the company has been located at the Saratoga Technology and Energy Park operated by the New York State Energy Research and Development Authority in Malta.
The company has signed a lease for 10,300 square feet at 450 Front St., which is already home to Automated Dynamics, another Schenectady`based technology company. Eleven full-time employees will relocate from Malta to Schenectady, and the company expects employment to increase to 15 by 2011.
Once the company moves, it will begin production on its first proprietary product, an inverter for residential solar photovoltaic systems.
Metroplex is providing a $50,000 grant toward relocation and fit-up costs.
`We are very excited to have Advanced Energy Conversion move to Schenectady County. As headquarters to GE’s renewable energy business, we are seeing more and more interest from companies in this fast-growing industry in locating in Schenectady County,` said Ray Gillen, chairman of the Schenectady Metroplex Development Authority.
Ocean State Job Lots, which currently occupies 25,000 square feet of space at the Crosstown Plaza location, is expanding into an additional 15,000 square feet of space.
`They came here in 2007, and they’re expanding already to create 10 new jobs,` said Gillen. `It was nice because they filled an empty retail spot in the community, and that’s one of our goals.`
Ocean State Job Lots sells discounted merchandise. The company has a 1 million-square-foot distribution center in Rhode Island, which allows it to purchase brand names in large quantities and ship the items quickly to its stores in the Northeast.
Crosstown Plaza is owned by the Robert Lupe family.
`We are pleased to see this expansion by Ocean State Job Lot. The company’s exciting approach to retail has certainly been a success with Schenectady shoppers,` said Shelley Lupe, co-owner, in a written statement.
Metroplex assisted in the effort to recruit Ocean State Job Lot to Schenectady and helped to coordinate local approval needed for the store to expand.“