Northeast Transformer Awarded $250k Grant to Aide Preble Expansion
State Senator Jim Seward was in Preble yesterday along with Town and County leaders to announce additional state funding for the expansion of Northeast Transformer which recently relocated from Cortland to expand in the former Salisbury Plant in Preble.
Northeast Transformer reconditions electrical transformers for utility companies, the company was founded back in 1999 in Groton, and at that time the small start-up had four employees.
From there company owner Gil Kozer grew the business; he purchased the former Hevi-Duty Electric Company that was once on South Main Street in Cortland and for the past few years the company has been quietly growing on Elm Street in Cortland. Last year the company announced it had outgrown the space and needed to expand again.
Kozer looked at several options including taking the business to Pennsylvania to be closer to some of his largest customers; working with the Cortland County I-D-A & B-D-C Kozer secured tax breaks and state grants to purchase the former Fire Truck plant in Preble and moved his operation there. Today Kozer employs over 50 people and is already considering adding onto the Preble facility.
In order to keep the business here and help with the $2.5 million dollar expansion, Kozer was able to obtain a $750 thousand dollar grant through the state’s regional competitive grant process, he also secured a 10 year payment in lieu of tax agreement on the new facility, which will provide over $306 thousand dollars in tax exemptions.
Yesterday Seward announced he secured another $250 thousand dollars in state funds to help offset the cost of the expansion.
Seward says Northeast Transformer is a great home grown success story, it shows that when given the opportunity small businesses can grow and prosper right here in New York. Seward says he remains committed to rolling back excessive business taxes and regulations to help companies like Northeast Transformer stay and encourages others to move to New York.
County I-D-A Director Gary VanGorder says this is a win for everyone; Northeast Transformer is an environmentally friendly company that recycles transformers using a clean process and provides good paying jobs. VanGorder says keeping the Preble facility occupied and jobs in Cortland County is just as important as attracting new business to the Community.
VanGorder the company is still utilizing the Cortland facility for storage and uses, if they decide to sell the property his agency will work to actively market the property to other businesses.