Hudson Valley Technology Business Closing Up Shop

Nearly 100 jobs will be lost as a result of Precision Flow Technologies closing their plant at TechCity. According to the Daily Freeman, the Town of Ulster business will close sometime between April 21st and April 29th.

According to their website, Precision Flow Technologies designs and manufactures systems for semiconductors, compound semiconductors, solar and medical technologies. The company has four additional manufacturing locations in Texas, Colorado, Oregon, and Singapore. While the Santa Clara, California office focuses on engineering and administrative services. Before cutbacks, the company had more than 650 employees. Layoffs struck the same location in both 2011 and 2012.

The TechCity location is a former IBM plant that sits on more than 250 acres. The location has had trouble keeping tenants and currently sits at about 40% occupied. TechCity is START-UP NY certified meaning businesses who choose to move there are eligible for tax incentives. You can find out HERE if your business is eligible. Those who qualify can operate tax free for up to 10 years.