By Lauren Zeugner
SYRACUSE — Steve Brenneman of Aluminum Insight provided a presentation of what the company’s facility will look to the Syracuse Redevelopment Commission during its regular meeting Tuesday, Feb. 16.
Aluminum Insight does aluminum extrusion. The company will have a press that is currently being built in the Milan/Florence area of Italy. The press will weigh 90 tons and be shipped to Syracuse in 40 to 50 shipping containers.
Brenneman said abatement is important since many of the extrusion companies Aluminum Insight competes with are very old and established.
Along with the photos of the press, Brenneman showed photos of the finishing line and a conceptional drawing of what the facility will look like. The company’s expansion will be done in two phases.
Phase I will be to build the first building to house the press. Phase II will be constructed once the first building is at capacity running three shifts. Aluminum Insight will be making a $9 million investment in equipment and $5 million in investment.
Approximately 40 people will be hired for phase I since the equipment is highly automated.
The commission also approved the designation for taxpayers which will allow it to collect Tax Increment Finance Funds for Travel Star and Aluminum Insight once their facilities are up and running in the technology park.
The commission approved a payment of the purchase price proceeds grant claim for Travel Star as well as approved a confirmatory resolution for tax abatement. The commission also approved abatement for Aluminum Insight.