More Than 500 Jobs Will be Created and Retained in Central New York Thanks to State-of-the-Art Facility
Investment Complements "Central NY Rising" – Region's Successful Economic Blueprint Aimed at Growing the Economy and Creating New Opportunities
Governor Andrew M. Cuomo today announced that Rapid Response Monitoring Services Inc. has almost completed a major expansion project at its headquarters in Syracuse, Onondaga County. The company has hired 150 new employees, and the expansion is expected to create more than 125 new jobs over the next year while retaining 325 positions. Operating 24 hours a day, Rapid Response provides services for homes and business nationwide monitoring for fire, security, personal emergency and other events. The project has nearly doubled the company’s facility on West Division Street.
"This announcement is great news for Central New York and the continued momentum of its growing economy," Governor Cuomo said. "Rapid Response Monitoring Inc.’s decision to further expand their company and create jobs in this region is just another reason that Central NY will continue to rise."
"The expansion of Rapid Response is a testament to this company’s commitment to Central New York and further proof that Governor Cuomo’s strategy is the right one for Upstate," said Lieutenant Governor Kathy Hochul, who toured the new facility today. "Public investment is leveraging new jobs and opportunities in the private sector, and as chair of the regional economic development councils I’m proud we could play an important part in helping Rapid Response take their operations to the next level right here in Syracuse."
In order to encourage Rapid Response Monitoring Services to grow their business in Central New York, Empire State Development is providing the company with $2.5 million in assistance. Up to $1.2 million will come through an Upstate Revitalization Initiative grant. Up to $1.3 million was awarded through the Excelsior tax credit program in return for job creation commitments. The total project cost is close to $14.4 million.
Rapid Response CFO David Pida said, "We are incredibly grateful to Governor Cuomo and to the State of New York for all of the support which has helped us to expand our business and invest even further in the Syracuse community. We are looking forward to continuing to thrive right here in Central New York by offering solid job opportunities as our business continues to grow."
Empire State Development President, CEO & Commissioner Howard Zemsky said, "The expansion of Rapid Response is a testament to the Governor’s forward-thinking economic strategy. New York State is actively incentivizing growth and the result is companies like Rapid Response choosing to expand their operations and create good-paying jobs in Central New York."
Rapid Response Monitoring Inc. is also investing nearly $8 million to construct a new 41,000 square-foot mixed-use building near its headquarters. The first two floors of that building will be dedicated to commercial space and the third story will be residential.
Onondaga County Executive Joanie Mahoney said, "The continued expansion of Rapid Response Monitoring is a testament to the forward-thinking CNY Rising economic strategy that is fostering innovation and transforming the regional economy. By actively engaging with the private sector, incentivizing growth and cutting red tape, companies like this are expanding their operations strengthening the economy and creating good-paying jobs in Onondaga County."
State Assemblyman William Magnarelli said, "I congratulate Rapid Response Monitoring, Inc. on completing its recent expansion. I am pleased that New York State was able to be a productive partner on this project. This expansion will result in 275 new jobs for Syracuse. I wish them the best of luck going forward."
For more on Rapid Response Monitoring Incorporated click here.
Accelerating Central NY Rising
Today's announcement complements the “Central NY Rising,” the region’s comprehensive blueprint to generate robust economic growth and community development. This initiative is focused on capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. The State has already invested nearly $3 billion in the region since 2012 to lay the groundwork for the plan which includes investing in the burgeoning unmanned aerial systems industry. 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 Syracuse, Oswego and Auburn as a destination to grow and invest in as a result.
The $500 million "Central NY Rising" Upstate Revitalization Initiative announced by Governor Cuomo in December 2015 will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 5,900 new jobs. More information is available here.