Press-Republican

Business

April 16, 2013

Investors agree to buy Pfizer Chazy

CHAZY — Local investors will purchase the former Pfizer research facility in the Town of Chazy.

Empire State Development and Clinton County announced Monday that Clinton Industrial Development Acquisition LLC had entered into a contract with Victor and Stephen Podd of Northstar Private Capital LLC. Terms of the deal were not released.



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The Podds are also the owners of Rouses Point-based Powertex, manufacturer of bulk-shipping equipment.

They plan to relocate their Sealiner manufacturing operation from Texas to Chazy, a move expected to create 22 jobs within a year.

Other portions of the building could be used for life science and bio-tech research and development, incubator space to attract university and hospital research programs and warehouse and distribution space, according to a press release from Empire State Development.

“This project would not have been possible without the help of the governor (Andrew Cuomo) and Empire State Development,” Stephen Podd said in the release, “as well as the Clinton County Industrial Development Agency/Clinton Industrial Development Acquisition LLC. We are also very thankful for the assistance we have received from Garry Douglas at the North Country Chamber of Commerce.”

‘SECOND CHANCES’

Victor Podd said he believes their redevelopment plan will bring needed jobs to the area.

“We also look forward to working with our friend Chazy Town Supervisor Staub Spiegel and thank him for his assistance,” he said.

Empire State Development CEO and Commissioner Kenneth Adams said the plan “will help to revitalize the state through the introduction of new jobs and opportunities in high-tech, high-growth industries.”

It’s about second chances, said Trent Trahan, who chairs the boards of directors of Clinton County Industrial Development Agency and Clinton Industrial Development Acquisition LLC.

“When the County of Clinton IDA Board was first approached to consider taking on the marketing and eventual sale of the property, the former Pfizer facility was in danger of being sold off for scrap.

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