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A New York City-based tech company with an office in the Franklin Square district plans on adding 200 jobs in Central New York over the next five years, as part of a deal recently brokered by Empire State Development. In exchange for $3 million in state tax credits, ShoreGroup will double its existing space. The firm currently employs 113 people in the Salt City.
There is a possibility that the company may create an additional 200 jobs, for a total of 400 new jobs, according to The Post-Standard article, depending on market conditions.
A New York City-based tech company with an office in the Franklin Square district plans on adding 200 jobs in Central New York over the next five years, as part of a deal recently brokered by Empire State Development. In exchange for $3 million in state tax credits, ShoreGroup will double its existing space. The firm currently employs 113 people in the Salt City.
There is a possibility that the company may create an additional 200 jobs, for a total of 400 new jobs, according to The Post-Standard article, depending on market conditions.
Great news, perfect development for Franklin Square! I wonder if the new office space they plan on moving into is Developer Anthony Fiorito's proposed building located at 438 Franklin Street. If you open the second link, scroll down to the map and note the location of Fiorito's development. The proposed office building is not far from ShoreGroups current offices on Plum Street in Franklin Square.
makes you wonder if these businesses just threaten to leave so that we can throw money at them...anyways...always nice to hear about more jobs coming to the area, especially high tech jobs...however i wish New York could completely cut out giving money to any business/company and lower taxes for everyone.
Great news, perfect development for Franklin Square! I wonder if the new office space they plan on moving into is Developer Anthony Fiorito's proposed building located at 438 Franklin Street. If you open the second link, scroll down to the map and note the location of Fiorito's development. The proposed office building is not far from ShoreGroups current offices on Plum Street in Franklin Square.
More great news and I wish the best for this company.
I understand the tax cut debate however I believe this was a smart move by NYS. The article says they needed the tax break in order to make the investment and create jobs. To me, this is an example of a correct way to do it. NYS is giving $3 million, yet this company is investing over $2 in upgrades and a new office space, plus growth and more people being employed. To me, this is a very smart investment, and I am happy to see NYS tax breaks being used in this way.
Unlike other massive tax break projects, such as the Verizon Call Center in Niagara County. NYS was offering hundreds of millions on dollars in tax breaks and in return the center would employ 200 people. This just doesn't seem like a smart investment to me.
However this past Spring, Verizon backed out and now the project is dead.
makes you wonder if these businesses just threaten to leave so that we can throw money at them...
I was thinking the same thing when I read it! Esp. when I read this quote by the CEO in the press release, were they REALLY going to leave? Unfortunately, it's a game played all over the country.
"New York has been our home for over a decade and the Syracuse area is fertile with software development talent, especially in the areas surrounding Syracuse University," said Alan Bendes, ShoreGroup's CFO. "Our CaseSentry network and application management platform was born in Syracuse and continues to blossom here. It is becoming an industry standard, having been selected as the best-of-breed solution by many of the largest enterprises around the globe, as well as being selected as the solution of choice by our channel partners for providing a solution to their enterprise contact center customers. New York State made it clear in words, actions and incentives that they wanted us to achieve our growth plans in New York, which made the decision a clear choice for us to invest for growth here as opposed to considering other potential locations."
According to the revised article online, the company is moving out of the city to an office park in Salina.
I am happy they are growing in CNY, but there needs to be an effort to encourage hi-tech companies to stay within the City limits. There is plenty of office space downtown that could be leased. It would compliment and diversify the City's growing med/ed/research sectors.
I am happy they are growing in CNY, but there needs to be an effort to encourage hi-tech companies to stay within the City limits. There is plenty of office space downtown that could be leased. It would compliment and diversify the City's growing med/ed/research sectors.
I'm inclined to agree. A small private firm in the center city gets public money to become a somewhat larger private firm in an exurb? This doesn't seem to benefit anyone other than the firm's ownership.
I was thinking the same thing when I read it! Esp. when I read this quote by the CEO in the press release, were they REALLY going to leave? Unfortunately, it's a game played all over the country.
"New York has been our home for over a decade and the Syracuse area is fertile with software development talent, especially in the areas surrounding Syracuse University," said Alan Bendes, ShoreGroup's CFO. "Our CaseSentry network and application management platform was born in Syracuse and continues to blossom here. It is becoming an industry standard, having been selected as the best-of-breed solution by many of the largest enterprises around the globe, as well as being selected as the solution of choice by our channel partners for providing a solution to their enterprise contact center customers. New York State made it clear in words, actions and incentives that they wanted us to achieve our growth plans in New York, which made the decision a clear choice for us to invest for growth here as opposed to considering other potential locations."
In any event, it is great news!
For once, it looks like Syracuse got a better deal than our neighbors to the west in Rochester, although taxpayers got screwed. According to the Rochester Democrat and Chronicle, at the same time the Syracuse deal was announced for 200+ new tech jobs, the Cuomo Administration gave a $1 million grant and $5 million in tax credits to Xerox to create a call center in suburban Webster. In exchange for $6 million in state incentives and several houndred thousand dollars in funding from Monroe County, Xerox will create 500 low paying call center jobs with an average salary of $25,000. State funding will equal $12,000 per job and will actually surpass the total capital expenditures Xerox will invest in the build-out of its call center. The state makes the dubious argument it will recoup the money through payroll taxes of the low paying jobs.
While we don't know the exact wages of the jobs to be created at ShoreGroup in Syracuse, Software Engineers and Technical Writers require a BS degree per some of the job postings on their website. The community would be far better served with 200 higher paying jobs with average salaries between $50,000 and $75,000 than 500 lower paying jobs with at average salaries $25,000.
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