Business Facilities - July 2008 - (Page 10)

CORPORATE MOVES New York Company Continues 96-year Commitment to Olean the Company received a In June, agrantDresser-Randcenter, set Development $2 million from Empire State to construct new technology to open in 2009, in Olean, NY. The funds will allow the company to retain its existing technology-related employees in Olean while creating 120 new jobs. Dresser-Rand plans to invest $14.7 million in capital to build the new facility, and the company can apply for up to $8 million in tax credits over a multi-year period due to its Empire Zone location. The company has been manufacturing in Olean since 1912, but currently has facilities spread across an expansive campus. The new technology center will allow the company to consolidate its staff in research and development, product engineering, and project Turbine production #0719 at www.BusinessFacilities.com 10 JULY 2008 PHOTO CREDIT: DIGITAL STOCK CORPORATION management into a state-of-the-art work environment where the company’s engineering development can be closer together and more productive. “As one of the largest private sector employers in the Southern Tier and Western New York with more than 2,300 employees, Dresser-Rand’s decision to retain and expand its operations in Olean was critical,” says Governor David Paterson. “With ESD support, we are helping ensure that Dresser-Rand is able to compete in the world marketplace and keep jobs here in Upstate New York. It is imperative that New York State be at the forefront of international business development if we are to realize our goals for revitalizing the Upstate economy.” A supplier of turbines and rotating equipment, Dresser-Rand has New York manufacturing operations in Olean, Wellsville, and Painted Post. Prior to receiving grants from ESD, the company had considered moving its technology staff and much of its office personnel to its headquarters in Houston, TX, where most of its management staff is based. But the company has received strong support from state and local elected officials throughout the years, as well as previous assistance from ESD. Most recently, Dresser-Rand accepted a $1 million grant for the retention of 448 employees at its Wellsville plant. The company also has international facilities in France, Germany, India, and Norway. http://www.build-here.com http://www.BusinessFacilities.com

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Business Facilities - July 2008 Contents First Word Snapshots Corporate Moves: New York The 2008 Business Facilities Rankings Report 2008 Rankings: Biotech Blasts Off 2008 Rankings: Green with Envy 2008 Rankings: Warm Climate for Business Nanotech Looms Large in Pennsylvania Metro Spotlight: Inland Empire, CA Food Processing Sites: Providing Sustenance as Well as Nutrition Sale-Leasebacks: Easing the Credit Crunch Corporate Moves: Georgia Metro Spotlight: Albuquerque, NM Advertiser Index Inside LiveXchange

Business Facilities - July 2008

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