Saratoga Economic Development Corp. (SEDC) unveiled in January plans for a new tech park that will add over 1 million square feet of ready-to-occupy commercial space for priority business sector uses.<\/p>\n
The 180-plus acre site\u2014called Synergy Tech Park\u2014is one mile south of Northway Exit 10, bordered by Route 9 on the east, Kinns Road to the south and the Northway to the west.<\/p>\n
Development will start this year. The announcement was made at SEDC\u2019s annual member investor meeting marking its 40th anniversary year.<\/p>\n
Officials said MJ Properties of Clifton Park is the developer, led by its president, Mark Rekucki. SEDC will collaborate with the Clifton Park Industrial Development Agency on incentives to help attract growth businesses.<\/p>\n
SEDC and MJ Properties will co-promote the newly developed space to strategic commercial office, professional services and light industrial users. Some 405,000 square feet of proposed new space is already approved for commercial use and MJ Properties is pursing approval of an additional 600,000 square feet.<\/p>\n
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\u201cBuilding on our 40-year legacy of community and market led success, we are thrilled to partner with MJ Properties to promote needed inventory that will truly be ready for light industrial, professional service and corporate headquarter spaces,\u201d said Dennis Brobston, SEDC president.<\/p>\n
\u201cIn 2016, when we announced our Advance Saratoga initiative to attract and retain over 9,460 jobs to the area and billions of new investment, we focused on needing an inventory of ready-to-build buildings in commercial corridors,\u201d he said. \u201cWe couldn\u2019t be happier than to work with a proven local developer and the community to establish an easily accessible, expansive site for commercial use than this one already zoned for a quality job-creating mix of uses. Accessible land is at a premium due to the business-friendly policies of Saratoga County and the managed risk of the market that drove investment over the previous 40 years of growth here. Now we need to shape best uses of our limited prime locations like this one to strengthen Saratoga\u2019s tax base and quality wage growth businesses of the next generations.\u201d<\/p>\n
SEDC will lead the application for local property and sales tax abatements that will go to the Clifton Park IDA.<\/p>\n
SEDC and MJ Properties and will promote the lease of space to priority light industrial, professional services, corporate office and accessory service businesses.<\/p>\n
Officials said development of the initial phase of building is anticipated to start in March. There will be 405,000 square feet of space developed in phase one. At full build out, Synergy Tech Park could deliver over 1,000,000 square feet of new commercial space.<\/p>\n
\u201cWe have had great success developing spec buildings in Saratoga County\u2019s recent run of growth,\u201d said Rekucki. \u201cThe market continues to attract quality business leaders, talented individuals and enjoys great quality of life backed by relatively business friendly policies. We believe the time is now to put this additional capacity on line at this premier location near two interstate exits and fronting an expanded stretch of Route 9.\u201d<\/p>\n
\u201cIt is one thing to be shovel-ready, but that\u2019s frequently not enough to capture businesses ready to move at the speed of the marketplace,\u201d said Brobston. \u201cThis investment and community support will empower Saratoga to continue demonstrating why it is a leader in New York economic growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Saratoga Economic Development Corp. (SEDC) unveiled in January plans for a new tech park that will add over 1 million square feet of ready-to-occupy commercial space for priority business sector uses. The 180-plus acre site\u2014called Synergy Tech Park\u2014is one mile south of Northway Exit 10, bordered by Route 9 on the east, Kinns Road to […]<\/p>\n","protected":false},"author":196,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,12],"tags":[],"class_list":["post-31827","post","type-post","status-publish","format-standard","hentry","category-business-news","category-construction"],"yoast_head":"\r\n