New York’s development professionals bring expertise, experience, best practices, and the resources of the state and their communities to every project they assist. These case studies are a sampling of those projects.
If you would like to submit your project(s) to be posted on the NYSEDC Web Site you can fill out either form: PDF Form or MS Word Form. Please send all submissions to: eaton@nysedc.org
UltrePET, LLC
UltrePET, LLC currently operates a capital intensive recycling process that converts post-consumer polyethlylene terepthalate (PET) bales, shred and dirty regrind into clean flake and resin products that UltrePET then sells throughout the U.S. and internationally. The firm is undertaking a $2.5 million project to acquire and install a new extrusion system at its facility on Fuller Road.
Project Need (problem)
UltrePET, LLC plans to acquire and install a new extrusion system that will produce a dry resin pellet instead of the resin flake. This new system will allow UltrePET to significantly increase annual production and revenue, and will position UltrePET as a major competitor in the PET reclaiming business. The proposed project will allow UltrePET to retain its current 65 employees and add five new full-time positions.
Project Solution
Through the ALDC's sponsorship of UltrePET and coordination with Empire State Development's (ESD) Environmental Investment Program, the company will continue to contribute to economic development in Albany. NYESD and its Environmental Services Unit (ESU) support projects that lead to measurable pollution preventions with economic development results. UltrePET is a solid business in the City of Albany. The business occupies more than half of the available space in the largest, single-story building in the city. The proposed project is essential to keeping the business viable and protecting the existing employee base at UltrePET. The PET reclaiming business is facing significant competition from China and other low-cost labor nations. In order to remain viable, it was necessary that UltrePET invest in the new extrusion system.
Copyright © 2000 - 2009
New York State Economic Development Council
Phone: (518) 426-4058
Fax: (518) 426-4059
New York State Economic Development Council
111 Washington Avenue, 6th Floor
Albany NY 12210