Electronic Manufacturing Solutions Company Will Construct New 150,000 Square-Foot Facility and Create More Than 360 New Jobs
State Investment in Storied Company Complements "Finger Lakes Forward" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy
Governor Andrew M. Cuomo today announced IEC Electronics Corporation will invest more than $20 million to relocate and construct a new state-of-the-art facility in Newark, Wayne County. The electronic manufacturing solutions provider plans to create up to 362 new jobs and retain 463 positions at the new 150,000 square-foot facility located at the Silver Hill Technology Park. The company had considered moving out of New York State but chose to remain in the region with support from the Governor and Empire State Development. IEC plans to move to and begin operations at the new facility in mid-2019.
"New York will continue to work with businesses as they expand and grow to ensure good-paying jobs remain in our communities," Governor Cuomo said. "By investing in IEC Electronics' expansion in the Wayne County, New York has retained a long-standing community business, while supporting the creation of hundreds of new jobs that will help the region continue to move forward."
"As further evidence of the confidence that businesses have in the Upstate economy, IEC has not only decided to stay, but undertake a major expansion and create hundreds of welcome jobs," said Lieutenant Governor Kathy Hochul. "This means security for the 463 existing employees and opportunities for 362 new workers in the heart of the Finger Lakes region. Our targeted economic strategies are working -- resulting in business growth, good paying jobs and stronger communities for our residents."
For 50 years, IEC Electronics has been providing solutions to industry leading companies in the medical, industrial, aerospace, and defense sectors. The company is a provider of electronic contract manufacturing services such as printed circuit board assembly, cable and wire harness assembly, and precision metalworking for life-saving and mission critical products. They specialize in providing technical solutions for the custom manufacturing of complex full system assemblies with advanced engineering support and state of the art laboratory services, including risk mitigation related to counterfeit component detection.
Empire State Development is providing up to $2 million through a Finger Lakes Forward Upstate Revitalization Initiative Grant and up to $3 million through the Excelsior Jobs Program in exchange for IEC's job creation commitments.
Rochester Gas & Electric and the New York State Electric and Gas Corporation are offering up to $670,000 in assistance for the project. Wayne County is also providing incentives for the venture and the Greater Rochester Enterprise was instrumental in helping the company remain in the Finger Lakes region. The total cost for the relocation project is approximately $22 million.
IEC Electronics President & CEO Jeffrey T. Schlarbaum said, "We are pleased that as we grow we can continue to be a part of this great community and remain in Wayne County. IEC has made its home in Newark since 1973 in a 100 years old former paper factory building that would require extensive capital investment to bring it to the next level. Constructing this new building enables us to design, from the ground up, a state-of-the-art and advanced technology facility that can support our growth as a leading U.S. based provider of electronic manufacturing design and production services for life-saving and mission critical products. We are partnered with some of the leading and most innovative global companies that choose to outsource the manufacturing of their products in the United States, and this custom facility will offer our growing customer base unmatched capabilities for their manufacturing needs. We'd like to thank Governor Cuomo and Empire State Development for their support and assistance enabling us to reinvest in upstate New York and build on IEC's long and successful history as a Newark based company."
Empire State Development President, CEO & Commissioner Howard Zemsky said, "The decision by IEC Electronics to grow in Wayne County, instead of innovating elsewhere, reflects both the region's strengths and New York State's strategic commitment to fostering a business-friendly environment that leads to job creation and retention. This is a great story, especially for the hundreds of workers who will continue to build the Finger Lakes economy."
FLREDC Co-Chairs Community College President Anne Kress and Greater Rochester Chamber of Commerce President and CEO Bob Duffy said, "We thank Governor Cuomo for his continued efforts to support Upstate and for helping this well-established company grow, ensuring that it remains a very important part of our region's economic future. Supporting companies like IEC Electronics is an incredibly important part of the Finger Lakes Forward economic development plan which is working to create opportunities throughout the region."
NYSEG and RG&E President and Chief Executive Carl A. Taylor said, "IEC Electronics' decision to invest in Wayne County is a huge win for the community and the state. NYSEG is pleased to participate in a collaborative effort with our community partners and IEC Electronics, to help make this project a reality. This collaboration is a perfect example of NYSEG and RG&E's commitment to provide economic development support for energy infrastructure and business energy efficiency, as part of an overall comprehensive effort to help communities attract and retain businesses, as well as retain and grow employment to further strengthen the state's economy. We congratulate IEC Electronics and wish the company continued success."
Senator Pamela Helming said, "This is a truly exciting moment for the people of Wayne County with IEC Electronics Corporation opening their new facility right here in Newark. I appreciate IEC's commitment to our community and President and CEO Jeffrey Schlarbaum's leadership. This expansion will help create hundreds of new, local jobs and stimulate economic growth in our region. This is a perfect example of a private sector company maximizing our region's potential. I am proud to represent the Wayne-Finger Lakes region, where our local leaders are working hard each day to create an environment where job creating businesses can grow and succeed. I look forward to continuing to work with Governor Cuomo to support local economic development efforts."
Assemblyman Robert Oaks said, "IEC's commitment to stay and expand their operations is excellent news for Newark, Wayne County, and our entire region. A new $22 million facility in the Silver Hill Technology Park and the plan to create more than 350 new positions are clear evidence of the company's commitment to our area. As we seek to create jobs and expand manufacturing throughout our region, I want to thank IEC, Empire State Development, and Wayne County Economic Development for all of their efforts in making this project a reality."
Wayne County Supervisors Board Chairman Steven Leroy said, "I am very pleased that IEC Electronics will continue to grow its business here in Wayne County. This company is woven into the fabric of the community. Thank you IEC for creating jobs and solid opportunities that will help our region continue to thrive."
Newark Mayor Johnathan Taylor said, "We are thrilled to have a global company like IEC, growing and expanding at the Silver Hill Technology Park in the Village of Newark. Their commitment to build a state of the art facility here, will have a profound effect in our community and beyond, throughout the entire Finger Lakes region. We share a long history with IEC here in the Village and we are excited to see the new jobs this expansion will create. We would like to thank the Governorand all the agencies that worked collaboratively to make this a reality "
Wayne County Industrial Development Agency CEO Brian Pincelli said, "IEC Electronics' investment illustrates their commitment to Wayne County and is a testament to the talented workforce in our region. IEC has been a part of our community for over 30 years and we are excited to see their growth and continued success."
Greater Rochester Enterprise President and CEO Matt Hurlbutt said, "The GRE team worked closely with IEC Electronics leaders over the last several months to ensure they had access to the right resources to grow their business in the Greater Rochester, NY region. Connectivity to local partners and a talented local workforce served as key factors in IEC Electronics' decision to create more than 360 new jobs and retain 463 jobs in Wayne County."
IEC Electronics was recognized in 2017 as Supplier of the Year by Viasat, Inc and in 2015 received a Supplier Excellence Award by Harris Corporation. For more Information about IEC Electronics, click here.
Accelerating Finger Lakes Forward
Today's announcement complements "Finger Lakes Forward," the region's comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $5.2 billion in the region since 2012 to lay the groundwork for the plan - investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in.
Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State's $500 million investment will incentivize private business to invest well over $2.5 billion - and the region's plan, as submitted, projects up to 8,200 new jobs. More information is available here.
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