November 18, 2019
Albany, NY

Governor Cuomo Announces Completion of Bantam Tools Advanced Manufacturing Facility in Peekskill

TOP Governor Cuomo Announces Completion of Bantam...

Advanced Manufacturing Facility to Create 54 New Jobs

Peekskill Received $10 Million Downtown Revitalization Initiative Investment in August

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Governor Andrew M. Cuomo today announced the completion of Bantam Tools' new advanced manufacturing facility in Peekskill, Westchester County. The company, which makes desktop-sized milling machines that can be used to create printed circuit boards, will create 54 new jobs and invest more than $5.3 million in the new, 8,700 square foot facility. Bantam Tools moved to Peekskill from Berkeley, California. The company's choice of Peekskill is evidence of the city's continuing revitalization. In August, Governor Cuomo announced that Peekskill won $10 million in state investment as part of the fourth-round Downtown Revitalization Initiative. 

"Peekskill's wide ranging assets, from niche markets in arts and entertainment to an award-winning waterfront and parks system, leave no doubt that it's a city on the rise," Governor Cuomo said. "Bantam Tools' expansion will add a new facility and advanced manufacturing jobs to the growing roster of new businesses in Peekskill and further revitalize the Mid-Hudson region."

"Peekskill continues to grow as a thriving art community with a range of businesses and a walkable downtown," said Lieutenant Governor Kathy Hochul. "The decision for Bantam Tools to move to Peekskill from California underscores the momentum of growth in the area and the business-friendly climate in New York State. This new advanced manufacturing facility will create 54 good jobs and strengthen the high-tech industry in the region. We want to make sure young people are inspired and trained for jobs in manufacturing to close the skills gap and ensure businesses have the workforce needed to grow in the Hudson Valley and across the state."

To encourage Bantam Tools to move from California to New York, Empire State Development has offered up to $600,000 in Excelsior Jobs Program tax credits, which are directly tied to job creation. The project also included acquisition of the site, including the 100-year-old building now transformed into a new facility, and purchase of machinery and equipment.

Bantam Tools CEO Bre Pettis said, "We are very excited to officially open the new Bantam Tools manufacturing space and headquarters in Peekskill, New York. This is our first step in creating a hub of innovation and manufacturing in the Hudson Valley. Manufacturing our desktop CNC machines in the United States and specifically, building them in Peekskill, is a great accomplishment. Moving the company from the San Francisco Bay Area to Peekskill signifies a goal to build a sustainable tech company in the Hudson Valley — in an area with a diverse community, natural beauty and affordable living all within an easy distance to New York City— is something that is very important to helping create happy employees."

Bantam Tools makes desktop CNC machines with professional reliability and precision at an affordable price. The Bantam Tools Desktop PCB Milling Machine is the company's flagship product and is relied on by electrical engineers and mechanical engineers, as well as university labs and makerspaces. The company was originally known as Other Machine Co. and became Bantam Tools in 2017. Bre Pettis, owner of the company, is best known as the co-founder and former CEO of MakerBot Industries, a 3D printer company now owned by Stratasys.

Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, "Bantam Tools' relocation to New York exemplifies the Mid-Hudson's ongoing revitalization as a hub for advanced manufacturing, and we're proud to see it open in Peekskill and add new, good jobs to the city's economy."

Secretary of State Rossana Rosado said, "Bantam Tools' opening in Peekskill is the latest sign that the city is in the midst of a resurgence, which will only be amplified through the investments being made as part of Governor Cuomo's Downtown Revitalization Initiative."

Senator Peter Harckham said, "The great news that Bantam Tools is moving to Peekskill from California is further proof that state support for smart business development certainly makes sense. These well-paying manufacturing jobs will boost the city's economy and overall vitality. I truly appreciate the Governor and Lieutenant Governor's leadership in this regard."

Assemblywoman Sandy Galef said, "This is another piece of great news for the Peekskill community, and is a welcome addition to all the new economic growth that has been taking place in the last few years. I am also happy that this business decided to renovate a 100-year-old building that was on site, giving a second life to this building as a place for new innovation."

County Executive George Latimer said, "Westchester County welcomes job-creating businesses like Bantam Tools with open arms. What we are seeing right now in Peekskill's renaissance is what good government can do when they are committed to finding the best path forward for all residents. Congratulations to the City and Mayor Andre Rainey and thank you to Governor Cuomo and Empire State Development."

City of Peekskill Mayor Andre Rainey said, "Bantam Tools opening is a wonderful new resource for a thriving community. Advanced technology, workforce development, and numerous other opportunities are filling this wonderful city and it brings joy to my heart. Bre Pettis is nothing short of amazing and bringing Bantam to Peekskill is another example of the direction this great city is heading. This isn't just another ribbon cutting and grand opening. This the beginning of a new future for Peekskill - one of the greatest cities on earth!"

 

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