Contact: Patricia Harington
April 27, 2004 377-6054
Up to 20 Companies Expected to Use New Pace University Business Incubator at nValley Technology Center
Yonkers, N.Y. Mayor Philip A. Amicone and David A. Caputo, Ph.D., President of Pace University, have announced that up to 20 “early-stage companies” may be part of the new business incubator run by Pace University at the nValley Technology Center in Yonkers.
The incubator will occupy approximately 13,000 square feet of space at the Center and will provide “early stage companies” access to low-cost space, economic incentives and assistance in general business techniques and commercialization.
Applications to become incubator resident companies are now being encouraged. Information is at www.sci2.org or from the Executive Director, Victor Goldsmith, at 1-800-821-2456.
“This project is one of many that is contributing to the rebirth of a growth sector in Yonkers,” said Mayor Amicone. “We are very pleased to have Pace University join us in the continued re-growth of our city, which has emerged as one of the premier cities in which to live and work in the State of New York. With institutions like Pace joining us, we are confident that the effort will continue to grow. This is only the beginning of what promises to be another great step forward for the City of Yonkers.”
Amicone noted that the building is within the New York State Empire Zone and the federal Empowerment Zone and will definitely be a draw for businesses in the region. In addition, the property is wired as a smart building and is connected to the ATM switch that provides ultra high-speed data transfer.
“Our partnership with Yonkers is moving this project rapidly toward creating a new economic engine for the Hudson Valley,” said Caputo. “We are pleased that it will bring the expertise of our university to new businesses and will bring additional practical experiences to our students and our professors.”
Pace previously unveiled an additional location for the incubator in downtown Manhattan, near its campus across from City Hall.
The Yonkers building was constructed by Alexander Smith Carpet Mills in 1922 and for 40 years was home to Purdue Frederick Pharmaceuticals. In 2000, the facility was donated by the firm to the Yonkers Industrial Development Agency (YIDA). The YIDA formed the nValley Technology Corporation, to build out, lease and operate the facility.
The nValley Technology Center has undergone over $14 million in renovations and will also house the following offices: AtlanticBank, Hudson Valley Bank, Empire Zone, a Small Business Development Center, the Yonkers Police Department, federal Empowerment Zone, and an nValley Café.