Manufacturer Moves

By WBNG News

July 22, 2010 Updated Mar 18, 2009 at 6:18 PM EDT

A manufacturer in Endicott is expanding, but it plans to relocate its business to Binghamton.

VMR Electronics is says it's in the process of purchasing the former Ascendia site on Eldredge Street.

Action News Reporter Julianne Sweeney tells what's prompting the move.

The former Ascendia plant in Binghamton has not been vacant long and will soon be occupied again.

VMR Electronics plans to move here to assemble electronic cables and wire harnesses.

"It's just another step we're taking to make sure we're meeting our one-time delivery with our customers, so it's extremely exciting for everyone working here," said VMR's Vice President Mark Kelly.

VMR employs 155 people and is looking to add 50 more to its staff.

Several factors led to its decision to move.

It secured an urban development loan through the City of Binghamton.

The loan requires the company to create 11 new jobs.

Mayor Matt Ryan says half of those new hires must be Northside residents.

"This will provide a good wage for people, um and I it's, it's great," said Ryan.

VMR is currently operating out of a site here on North Street in Endicott.

The company says it plans to move than 150 people to its new facility in Binghamton.

The former Ascendia site is in a "Historically Underutilized Business or HUB Zone, which provides federal contracting opportunities for small businesses located in low to moderate-income areas.

VMR has contracts with Lockheed Martin and BAE Systems.

"Our business comes from across the U.S, and ya know, we've got a high quality product...and it's, it's bringing in new business," said Kelly.

"This is a good place for their industry to locate, grow, and it's good for the whole area," said Ryan.

Ryan says VMR is investing more than $4-million dollars into the building and equipment needed for the new site.

In Binghamton, Julianne Sweeney, WBNG-TV, Action News.

VMR says the sale should be complete by April.

It plans to close its Endicott site and a second facility in Kirkwood.

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