By Christine Graf
Vermont-based electrical product supplier Green Mountain Electric Supply is moving forward with plans to convert a 64,000-square-foot warehouse at 823 Main St. in Clifton Park into a wire cutting, storage, and assembly plant.
The Saratoga Economic Development Corp. assisted the company in applying for tax incentives which have been awarded in the amount of $338,329. In addition to a $33,000 mortgage tax exemption, the company was awarded a $57,400 sales tax exemption and a payment-in-lieu-of-taxes agreement that will amount to $247,929 over 10 years, officials said.
Green Mountain Electric Supply, a third-generation family-owned company, has been in business since 1953. Since that time, it has grown to include 20 locations throughout Vermont, New Hampshire, and New York, and 280 employees.
“We distribute electrical products meaning that we buy material from manufacturers or rep agencies and sell it mostly to commercial contractors,” said Luc Choquette, vice president of operations.
Among its products are large reels of copper wire that are cut and repackaged on smaller reels.
“We take that 5,000 feet, and a contractor may need only three runs of 50 feet on a reel. So, we will take it from the master reel and put it on smaller reels for a contractor,” said Choquette.
The company is not new to the area and currently has facilities in Halfmoon, Queensbury, and Albany. They plan to purchase the Main Street property for $5.2 million from developer Mark Rekucki, owner of M.J. Properties.
“It’s a building that was pretty old and decrepit, and from my understanding, we are purchasing it from someone who has flipped it,” said Choquette.
Unlike the majority of the company’s other locations, Clifton Park will not be a branch location.
“This is just going to be a distribution and storage solution for us. Contractors aren’t going to be able to come through the door and ask for things like they do at other locations,” he said.
The company hopes to have employees in the building within the next several weeks. Employment is expected to grow at a steady rate in the coming years.
“We will have anywhere from five to 30 or 50 employees down the road as things continue to grow,” said Choquette.
He doesn’t rule out future expansion in the Capital Region.
“There’s always potential for future growth. We’re hoping at some point that something may line up and make sense for us to grow within the greater Saratoga County area as well. We are looking forward to being part of the local community.”