79
      Tuesday
      86 / 66
      Wednesday
      89 / 68
      Thursday
      85 / 64

      $35 million in loans approved for Marcy nanotech site

      A rendering of the proposed Marcy Nanocenter

      New York State approved $35 million in loans to help develop a nanotechnology hub in the Mohawk Valley.

      The New York State Environmental Facilities Corp. on Thursday announced a $17.5 million interest-free loan and a $17.5 million low-interest loan for the development of the Marcy NanoCenter near Utica.

      Six high-tech companies last fall said they would invest $1.5 billion help grow a second nanotechnology hub upstate in addition to Albany.

      Gov. Andrew Cuomo says the three- to five-year loans to Oneida County will go toward improving the county's sewer system.