January 12, 2007
By: by Times Union
Jan. 11--WATERVLIET -- The Capital Region's business community is already feeling the impact of Vistec Lithography Ltd., a high-tech equipment supplier that is moving from Cambridge, England, to the Watervliet Arsenal.
The company has already hired its first local employee -- a human resources director -- and wants to hire 60 new employees this year who will work in space at the arsenal and at the University at Albany's College of Nanoscale Science and Engineering.
A company job fair has been planned for 5 to 8:30 p.m. Jan. 24 at the college's Albany NanoTech complex on Fuller Road in Albany. A range of jobs is being advertised, from engineering and finance to marketing and administrative positions.
In addition, about 20 current Vistec employees plan to move from England to the Capital Region, and they have already been in the area, looking for homes and checking out schools. They've also been spending money while they are here, said Tony Gaetano, president of the Arsenal Business & Technology Partnership, a nonprofit that brings companies to the U.S. Army installation.
"The people from Cambridge are very enthusiastic about the area," Gaetano said.
The new human resource director is Jim Joyce, a longtime personnel executive who has worked for a number of local companies, including General Electric Co.
Vistec announced in October that it planned to move its operations from England to Watervliet, where it will initially occupy 30,000 square feet in a building at the arsenal. The company plans to invest $125 million in the new facility, and the state is contributing $30 million along with the research capabilities at Albany NanoTech.
The agreement is significant to economic developers in the region because it is considered the first time a high-tech equipment manufacturer has moved its entire operation to the region.
Vistec makes electron-beam lithography equipment used in the manufacture of computer chips. Some of its customers are computer chip makers and others are defense contractors.
The Vistec announcement came just a few months after the state announced a $1.2 billion deal with Advanced Micro Devices Inc. to build a $3.2 billion computer chip factory in Saratoga County.
"These things build upon each other," Assembly Majority Leader Ronald Canestrari, D-Cohoes, one of the architects of the Vistec deal, told a meeting of the New York Bankers Association on Monday in Albany. Rulison can be reached at 454-5504 or by e-mail at email@example.com.