Cimolai-HY

Olean,
NY
(2023)

Cimolai-HY

Manufacturing

Investment

NMTC Amount: $34,000,000
Total Project Cost: $57,266,816

IMPACT

250 FTE jobs
819,392 sq. ft. of real estate

CDEs

Empire State Development Corporation, Hampton Roads Ventures, Mid-City Community CDE

Investor

US Bank

Project Description

This project will partially finance the acquisition and renovation of the former Dresser-Rand/Siemens Energy industrial facility in Olean, NY, the acquisition and commissioning of manufacturing equipment, and the training of personnel specifically to support the fabrication of structural steel and related startup costs. When complete, the facility will be a state of-the-art manufacturing plant producing structural steel for large infrastructure projects such as bridges, industrial facilities, sports stadiums and commercial buildings. Prior to its closure in April 2022, the facility was one of the largest manufacturing plants in Cattaraugus County, employing approximately 500 people. The firm plans to fill 250 FTE positions once the production line is fully operational.

MAP

Address: 500 Paul Clark Drive, Olean, NY 14760

Census Tract: 36009961700

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