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.
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Polyshot Corporation
Founded in 1989, Polyshot Corporation is a manufacturer of runnerless molding systems for the injection molding industry. This "hot runner system" means that the plastic parts do not have to be connected by a plastic runner or "tree," much like how parts are packaged in a model-car kit. This system enables a manufacturer to save money by eliminating plastic waste. Polyshot holds multiple patents and is one of only a few companies worldwide that manufacture this type of system.
The County of Monroe Industrial Development Agency first assisted Polyshot in 2000, when the company constructed a 13,000 square foot manufacturing plant at the RIT Business and Technology Park. Since that time, employment has more than doubled and the company had outgrown its existing space.
Project Need (problem)
The company’s growth needed an expansion that would more than double their existing space. However, the project needed to be in keeping with the President’s Vision Statement which includes a provision to “operate the company on a sound financial basis with a goal of profitability for the company and its employees…”,
Project Solution
The County of Monroe Industrial Development Agency worked with Polyshot to secure a JobsPlus Payment-In-Lieu-of Taxes agreement. This program provides a substantial real property abatement for companies which create and retain new jobs. COMIDA and Polyshot also partnered with Monroe County Industrial Development Corporation to provide attractive financing for the project.
With this assistance, the company recently completed a $1.4 million expansion of their manufacturing operation in Monroe County. The new expansion will accommodate their growing workforce, and provide much need space for future growth.
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New York State Economic Development Council
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New York State Economic Development Council
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