Latham left with big space to fill but officials have no worries
LATHAM and SLINGERLANDS – Plug Power will move its headquarters from Latham to Vista Technology Park in Slingerlands, consolidating its operations into its now 407,000 square foot Slingerlands facility. That facility was built for $125 million and opened in January 2023. The company, which develops hydrogen fuel cell systems and green hydrogen fuel solutions, will transfer more jobs to the Slingerlands location.
According to a written statement from Plug Power CEO Andy Marsh, the company’s move will take place over the next year in a phased approach that will not disrupt the company’s operations. Advance Albany County Alliance Director and Chief Executive Officer Kevin O’Connor reported that in December 2023, 894 people were employed at the Vista site.
The Towns of Bethlehem and Colonie were not informed in advance of the move and know few details, including how many employees are affected or when Plug Power will vacate the 111, 405 square foot site at 968 Albany Shaker Road in Latham. Colonie Town Supervisor Peter Crummey said he received no call about it. “Sometimes it’s just like home. You’re the last to know,” Crummey quipped.
Town of Bethlehem Supervisor David VanLuven, who is “thrilled” to have the company expand in Bethlehem, said Plug Power has provided no details regarding the numbers or type of jobs moving to Bethlehem or even when the move will occur. But he said he is not “surprised” by the move. “When you look at the facility built in Bethlehem, it is state of the art and there’s room for expansion, so I am not surprised, but I am very happy.”
He continued, “We are proud to have Plug Power as part of our business community and we are grateful to Albany County and to Albany County Executive Dan McCoy for all the work they did in our bid to have Plug Power here and have them here as they grow and expand.” A cheerleader for Bethlehem, VanLuven said this is yet another very strong and large company doing business in Bethlehem and supporting Bethlehem’s economic base. “Bethlehem is a great place to do business and to live in,” VanLuven said.
Bethlehem Senior Economic Developer John Taylor also said Bethlehem is still waiting to hear details from Plug Power. “Plug Power has been a great addition to the Bethlehem business community. We are glad to have them here and in the years to come.” He said the Bethlehem IDA made no grants to Plug Power to induce them to move their headquarters to Bethlehem.
Taylor said the additional influx of employees will not tax infrastructure or create traffic problems because when the facility’s construction was originally approved, the Town considered Plug Power’s targeted on site population to be 1600. That 1600 employee projection is tied to $45 million in state tax credits that Plug power is eligible for from Empire State Development to help pay for the original construction at Vista if it meets that employment target. Albany County had also provided Plug Power with funding – a $5 million grant – to develop the site.
Taylor was unaware whether Plug Power plans to expand the physical plant as it adds workers. He said any plans for additional buildings there would go through the Town’s regular site planning review process.
Marsh, in the written statement, said the move is “driven by Plug’s focus on growth and efficiency, combining these locations will streamline operations and foster greater collaboration for innovation as the company continues to advance the green hydrogen economy.”
Town of Colonie and Albany County officials described the move not as a loss for Latham and the Town of Colonie, but as a gain for the County as a whole. Director of Communications for the office of the County Executive Mary Rozak said, “At the end of the day Albany County is benefiting. While each municipality would like to have the sole benefit, it is better for the County to have a business that may be looking to move out of the County to choose a venue within the County rather than seeking a venue outside the County.”
“This is a great development and to the benefit of everyone in Albany County,” O’Connor said. “The move secures Plug Power’s future in Albany county and works to the benefit of everyone in the County because of the economic stimulus in the area.”
Even Crummey agreed. “I am very pleased to know this employer is staying in the County of Albany. A rising tide lifts all boats and if it is more advantageous economically for Plug Power to combine all their activity in one place, that’s fine.” He has no hard feelings towards Bethlehem. “I am happy to give a bump to another town. We are happy keeping them in Albany County.” He added, “We are very fond of our friends in Bethlehem.”
Sean Maguire, Town of Colonie Director of Planning & Economic Development, concurred. “We don’t see this as a loss because we are keeping Plug Power in Albany County,” he said. “While I would love to keep them here, they are making decisions that are right for them and that will be best for them.”
Because sales tax revenues are shared by the County’s towns, Crummey expects no decrease in tax revenues as a result of Plug Power’s move. Maguire said the “lunch time business will see some different faces, but I don’t think there will be a loss of local business because someone else will fill that space.” Maguire also said he does not expect Town residents to move their families to Bethlehem “over a difference of 15 minutes.”
Crummey exuded confidence that a new employer will move into Plug Power’s vacated space. He called the properties on Route 7 near the airport “red hot.” “If you head west on Route 7 towards Niskayuna, it’s on fire,” Crummey said. He pointed to redevelopment of an old bowling alley and other properties. And, new businesses, like a Porsche dealership, keep moving into the Route 7 corridor, Crummey said. With the airport nearby, its retail establishments and its school districts, Crummey concluded, “we are a place where people want to work, live and play.”
Given the area’s development, Crummey does not anticipate a long time vacancy in the building. He added that the Town will “help anyone who shows interest and if there is anything Town Hall can do to help people to consider those buildings, we will do it.”
Maguire said Plug Power will always be a “hometown company to us.” He said “it’s like when your kids move out of the house. Wasn’t the purpose to raise them to grow and become successful and independent?”
