The state will back a jobs-creating expansion at the PepsiCo bottling division”™s Westchester headquarters with an economic development grant of up to $4 million and steer $2.25 million to the Dutchess County nonprofit turning a former railroad bridge into a tourism destination at the Walkway Over the Hudson Historic Park in Poughkeepsie.
The grants were part of approximately $40.1 million in project funding approved Monday by the Empire State Development board of directors. ESD officials said the funded projects are expected to create more than 1,430 new jobs and retain more than 2,350 jobs throughout the state and will leverage more than $674 million in additional investments in business growth.
Purchase-based PepsiCo Inc. will apply the state grant toward renovation costs and machinery and equipment purchases as part of its $12.6 million expansion project at PepsiCo Beverages Co. headquarters in Somers.
State officials said the beverage unit has retained 907 existing jobs and already has created 328 new jobs, far exceeding its commitment to add 22 jobs.
The state economic development agency will tap its downstate revitalization fund for a grant of up to $2.25 million to the nonprofit group Walkway Over the Hudson.
The group in December expects to complete construction of an elevator rising 212 feet to the world’s longest elevated pedestrian park, on a converted railroad bridge. In the third phase of the adaptive reuse project, a visitor center is expected to be completed in June 2015.
The Hudson River walkway had about 500,000 visitors in 2012, double the anticipated amount, and is expected to rise as the nonprofit completes improvements.
The Empire State Development board also approved a grant of up to $1 million for machine and equipment purchases and installation at the Metal Container Corp. plant in New Windsor.
ESD officials said the company has invested $65 million in an internally developed technology and can manufacturing process and new equipment to launch a specialty line capable of producing an additional 500 million specialty or novelty cans year. MCC has expanded production in the Orange County plant to 3.6 billion cans per year, a 16% increase.
After a two-year construction period, the facility is expected to be operational by the end of this year. MCC will keep 173 full-time permanent jobs in New Windsor.
