45°
The $62,500 grants awarded to each company provide money for infrastructure improvements to their nearby business campuses as part of Central Hudson’s Shovel Ready economic development program.
The companies each also received $100,000 building revitalization grants from Central Hudson in 2013-14 to pay for renovations to the existing vacant buildings they now occupy.
“JBT Wolf-tec and Stavo Industries are both leaders in their fields, manufacturing high-value products right here in the Mid-Hudson Valley for clients both domestic and international,” said James Laurito, president and CEO of Central Hudson. “Our economic development programs and grants are intended to provide companies like these the ability to grow their businesses, employ local residents and boost our regional economy, while attracting other potential companies by showcasing the benefits of doing business in the Hudson Valley.”
“We are grateful for Central Hudson’s commitment to supporting the growth of local businesses,” said Ralf Ludwig, general manager of Wolf-tec, JBT Corp. “Central Hudson is a great partner and leader in our community.”
JBT Wolf-tec is a manufacturer of equipment used to process meat, poultry and seafood. The company expanded its industrial machinery manufacturing and distribution operations into a former 133,000-square-foot warehouse space in Kingston, investing more than $7 million in the site.
Stavo Industries produces liquid filtration equipment, catering to the biopharmaceutical, food and beverage, cosmetic, and biofuels industries. The company invested $6 million in its current location, a former 125,000-square-foot warehouse, and increased employment.
For more information on Central Hudson’s Economic Development programs, visit www.CentralHudson.com/economicdevelopment.
Click here to follow Daily Voice Northwest Dutchess and receive free news updates.
