New York Governor Visits Belden, Announces Multimillion Dollar Award to Support Syracuse-based Growth Initiatives
February 12 2024 - 9:30AM
Business Wire
Governor Kathy Hochul highlights $2.4 million in grants and
tax credits to spur operational expansion in Belden’s Syracuse, NY,
location
Belden Inc. (NYSE: BDC), a leading global supplier of network
infrastructure and digitization solutions, last week welcomed New
York Governor Kathy Hochul to its Syracuse, NY, facility where the
governor announced $2.4 million in incentives and tax credits to
expand fiber production at the company’s Central New York site.
Syracuse is home to Belden’s primary Broadband Solutions
location, operating under the PPC Broadband brand, where Hochul
highlighted key programs in her 2024 New York state budget. The
Governor also announced a flurry of economic and financial awards,
including a $1.2 million Empire State Development grant for Belden
and a $1.2 million Excelsior Jobs tax credit.
“We are honored to welcome Governor Hochul to our Syracuse
location,” said Dr. Ashish Chand, Belden President and CEO. “Her
words describing New York’s rich history of transformation and
reinvention, spoken from inside a Belden facility, underscore how
Belden itself is leading the way through ingenuity and innovation
from its many key locations across the U.S. and around the
world.”
Along with the economic incentives for Belden, Governor Hochul
announced 18 additional recipients across New York State to receive
a total of $15 million in financial awards through the Regional
Economic Development Council initiative.
“With these investments in fast-growing sectors like broadband
manufacturing and heat pump technology, the Regional Economic
Development Council Initiative is continuing to unlock the economic
potential of our state,” Governor Hochul said. “These businesses
are driving innovation and creating good, stable jobs for New
Yorkers, and thanks to our REDCs and significant state support, we
are writing them into New York’s economic success story.”
Late last year, Belden was also recognized by United States
Senate Majority Leader Chuck Schumer while marking the two-year
anniversary of the Bipartisan Infrastructure Law. The law includes
$65 billion to provide affordable, high-speed internet to all
Americans.
Belden’s Syracuse-based operations have focused on growth and
expansion, improvements to manufacturing processes, and supporting
state and federal programs aimed at bridging the digital divide and
spurring economic growth within the broadband sector.
Governor Hochul’s speech made inside of a key Belden facility,
along with the financial incentives awarded to Belden through her
New York State programs, serve as a testament to the company’s
ongoing transformational journey to becoming the world’s leading
provider of network and digitization solutions.
About Belden
Belden Inc. delivers the infrastructure that makes the digital
journey simpler, smarter and secure. We’re moving beyond
connectivity, from what we make to what we make possible through a
performance-driven portfolio, forward-thinking expertise and
purpose-built solutions. With a legacy of quality and reliability
spanning 120-plus years, we have a strong foundation to continue
building the future. We are headquartered in St. Louis and have
manufacturing capabilities in North America, Europe, Asia, and
Africa. For more information, visit us at www.belden.com; or follow
us on Facebook, LinkedIn and X/Twitter.
Belden, the Belden logo and PPC Broadband are trademarks or
registered trademarks of Belden Inc. or its affiliated companies in
the United States and other jurisdictions. Belden and other parties
may also have trademark rights in other terms used herein.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240212109816/en/
Mark Banick Director, Global Marketing – Broadband
Solutions O: 315.431.7330 M: 315.200.3142
mark.banick@belden.com
Belden (NYSE:BDC)
Historical Stock Chart
From Apr 2024 to May 2024
Belden (NYSE:BDC)
Historical Stock Chart
From May 2023 to May 2024