Empire State Development Corp. approved $9.8 million in funding June 26 for companies pledging to create or retain significant numbers of jobs in New York state, including a $150,000 grant for Pentegra Services Inc. in White Plains.
ESD CEO and commissioner Kenneth Adams said the grants are estimated to result in 120 new jobs and the retention of nearly 1,100 existing jobs statewide, while leveraging more than $245 million in private investments.
Pentegra Services, which provides retirement products and services to companies across the U.S., had outgrown its offices at The Exchange at 108 Corporate Park Drive, which is owned by Normandy Real Estate Partners, and was faced with expanding or relocating to a larger facility in Connecticut.
The $150,000 capital grant from ESD guaranteed Pentegra would keep its corporate headquarters in White Plains, retaining 128 jobs there, according to ESD. Pentegra opted to expand and renovate its existing offices at a cost of $1.2 million.
Pentegra has regional offices in New Jersey, Pennsylvania, North Carolina, South Carolina, Ohio, Illinois, Texas and Colorado, and its sales and marketing team is headquartered in Shelton, Conn.
