DeWitt, N.Y. — Cryomech Inc., which has been making cryogenic equipment since its founding in 1963, is seeking $1.4 million in tax exemptions for a new, $17 million manufacturing facility it is planning in DeWitt.
Cryomech has applied to the Onondaga County Industrial Development Agency for exemptions consisting of $747,974 in property tax discounts over 10 years, $550,000 in sales taxes on construction materials and $84,000 in mortgage recording tax.
The company plans to move to a 76,500-square-foot building to be built on a 14-acre vacant site at the former Brooklawn Golf Course at 6682 Moore Road to house its manufacturing and office space.
The new facility will employ 140 people, 19 more than the 121 the company employs at the 42,000-square-foot building it has outgrown a short distance away at 113 Falso Drive, according to the company’s application to the development agency.
“A new facility would enable Cryomech to fulfill growing customer demand, remain a global leader in product development, increase production capacity, grow revenue and add jobs,” Cryomech President and CEO Kelly Wypych said in a statement Tuesday.
Cryogenics is the production and use of materials at very low temperatures.
Cryomech, an employee-owned company, has operated on Falso Drive since 1995. The company describes itself as a global leader in the manufacturing of high-performance cryogenic equipment, such as cryocoolers, helium management devices and liquid nitrogen plants.
Many of its products are custom designed for customers in the fields of medicine, agriculture, aerospace, energy and computing. According to Cryogen, 69 percent of its products are exported. The company operates in more than 50 countries on all seven continents.
Quantum computing, which has the potential to deliver huge advancements in processing power, is a major driver of its recent growth. Cryomech said its customers include companies leading the world’s advancement of quantum computing, including IBM-Q, Google and Microsoft.
Sales to original equipment manufacturers are 60% of its business. Other customers include research universities and institutions, and the research departments of major corporations.
“The town of DeWitt is extremely pleased that Cryomech has chosen to stay in DeWitt,” Town Supervisor Ed Michalenko said in a statement. “This constitutes a major capital investment in our town and in our region.”
Cryomech leases its current facility. It said VIP Development Associates will build the new facility and lease it to the company.
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