RENSSELAER COUNTY, N.Y. — Momentive Performance Materials plans to build a new technology center and global headquarters in Rensselaer County.
The $65 million technology facility will begin construction in 2009 and will employ 130 people. The $16 million global headquarters facility will be constructed following completion of the technology center and will employ 120 people.
The company, which provides material solutions through silicon-based products and technology platforms, has not finalized the site of the new facilities, but has narrowed the field to several locations within the county. A decision is expected shortly.
“We strive to make our customers successful,” says Jonathan Rich, president and CEO for Momentive. “To continue to meet and exceed our customers’ needs, we need a world-class technology center for our top-notch talent to design and develop innovative products in order to compete in this highly competitive industry,” he says.
Momentive will receive grants and tax incentives from New York State and Rensselaer County including:
• $6.5 million in capital grants for construction of the technology center and headquarters and for existing infrastructure upgrades at their existing Waterford manufacturing plant
• Real estate tax reductions over 10 years related to the new facilities
The company’s previous headquarters was located in Wilton, Conn. It has already started moving to the Capital District in Albany, New York.
Momentive currently has multiple research and development centers globally.