Seward Announces Funding For Fermer Precision

James L. Seward

April 20, 2008

More jobs at a Herkimer County manufacturing company will result from an award announced today by Senator James L. Seward (R-C-I/Oneonta) at Fermer Precision in Ilion. Seward today announced that the 2008-09 state budget includes $300,000 for state-of-the-art, ultra-high precision, milling/turning machinery. The funding will help retain 25-30 workers and pave the way from an additional 10-15 jobs over the next year or so. The state award complements local investment.

"It's about jobs for the Mohawk Valley," Seward said. "This money is going to help create jobs right here. It will help Fermer grow its ability to offer quality work and products, and meet the changing technological demands of the world marketplace."

"Fermer Precision thanks the senator for this funding and for his unending work & representation in Albany," said Fermer President Stewart Bunce. "This funding helps ensure Fermer's continued competitiveness and leadership in the global automotive component machining market."

Fermer manufactures automotive components and performs related machining operations.

Seward has made economic development a priority as senator. He has worked with the Herkimer IDA to help local businesses grow and expand -- most recently a wood pellet plant in Schuyler.

"The project will have tremendous benefits for our area, which is why I fought to have the funding included in the state budget," Seward said.

The local project was included as part of more than $1.1 billion in capital investments in the 2008-09 state budget. Seward and his colleagues in the senate Republican majority have been fighting for more than a year for a program of state investment in job creation.

"The economic development funding included in the state budget will continue our successful partnership among the private sector, higher education and state government to help create new jobs and retain the highly-skilled workforce necessary to sustain future economic growth," Seward added. "Making smart investments in New York’s economy and capital infrastructure is a vital component of keeping our state vibrant and competitive in the global marketplace."

"Now more than ever, we need to find commonsense solutions to our common economic challenges," said Seward. "At the end of the day, what matters is jobs, jobs, and jobs -- and spending wisely to achieve results for which we are accountable."