The Saratoga County Prosperity Partnership will launch its job-creating Next Wave Center in the Saratoga Technology + Energy Park in Malta.
Officials said it will include an office for the Global Semiconductor Alliance (GSA). The initiative will then expand into multiple sites throughout Saratoga County through creation of the Next Wave Network (NWnet).
The announcement was made during the second annual Saratoga County Prosperity Summit, which attracted more than 150 attendees to the Saratoga City Center.
Prosperity Partnership officials said the NWnet will provide short-term flex space as a landing pad for companies working with GlobalFoundries, and serve as a launch pad for firms to grow business relationships in Saratoga County and the Capital Region. The initial center, at 107 Hermes Road in the STEP Park, will provide 10,500 square feet of space over two floors for companies seeking flexible configurations for office, warehouse, and light manufacturing activities.
The Saratoga Partnership secured the first building by working with the United Group of Companies, which has set aside space for short-term leases—generally from three months to two years—for companies that are just beginning to build business in the marketplace.
Conversations are underway to engage additional real estate developers and landlords to participate in the NWnet, which will be marketed by the Saratoga Partnership to supply chain companies working with GlobalFoundries, among other potential tenants, officials said.
“We are thrilled to locate the initial Next Wave Center and launch the Next Wave Network to facilitate critical space that will attract jobs, companies, and investment to Saratoga County,” said Marty Vanags, president of the Saratoga County Prosperity Partnership. “We look forward to working with The United Group of Companies on this proactive approach to economic development, and to engaging additional developers to leverage the growth at GlobalFoundries to generate economic opportunity.”
“We’re excited to be the first partner in the Saratoga County Prosperity Partnership’s innovative Next Wave Network,” said Michael Uccellini, president and CEO of the United Group of Companies. “Forward-thinking programs like this allow us to support the needs of growing companies and stimulate job growth in Saratoga County and beyond.”
“Establishing the Next Wave Network to build on the impact of GlobalFoundries and further spur our growing technology sector is the right strategy at the right time,” said Edward Kinowski, chairman of the Saratoga County Board of Supervisors. “We stand behind the Saratoga County Prosperity Partnership’s approach to attracting companies and creating jobs through a sustainable plan that is built to last.”
“In creating the Next Wave Network, the Saratoga County Prosperity Partnership is executing a proactive strategy to bring new jobs and economic opportunity to Saratoga County,” said Jack Lawler, chairman of the Saratoga County Prosperity Partnership and supervisor of the town of Waterford.
The first organization to secure office space, GSA, is a semiconductor trade association that represents more than 400 member companies in 35 countries that combine for over 75 percent of industry revenues. Through a strategic partnership, the Saratoga Partnership will market the NWnet and Saratoga County directly to GSA members, and the two will present the first-ever Northeast Semiconductor Symposium.
“Saratoga County has quickly become an important Northeast hub for the semiconductor industry, spurred by the rapid growth of GlobalFoundries and supported by the forward-thinking team at the Saratoga Partnership,” said Jodi Shelton, President and Co-founder of GSA. “This partnership provides GSA with additional opportunities to support the needs of semiconductor and supply chain companies, and we look forward to delivering value on behalf of our membership.”