Cuomo: Two Syracuse companies expanding to add 242 jobs

Two Syracuse companies expanding to add 242 jobs/ Gov. Cuomo's Office

SYRACUSE, N.Y. -- Speaking from the Hotel Syracuse, Governor Andrew Cuomo said two Syracuse companies will be expanding their operations and adding 242 new jobs.

Gov. Cuomo says the two companies, Terakeet and TCG/Ascension Gaming, are choosing to stay in Syracuse and invest locally instead of leaving the area, and by doing so the Syracuse area will retain 219 jobs between the two companies.

On top of those retained jobs, the two companies will expand their operations, according to the Governor, and add 200 more jobs between them. All told, the Governor's Office says this will pump $2.5 into the area's economy annually.

"New York has fundamentally transformed our approach to economic development through the Regional Economic Development Councils - and today, our investments are bearing fruit," Governor Cuomo said. "From the complete renovation of the Syracuse Hotel to attracting top talent and big business to the region, this state is committed to revitalizing Central New York and strengthening the upstate economy."

Gov. Cuomo said he chose to hold the press conference at the Hotel Syracuse because he says it stands as a symbol of the area's renaissance.

Terakeet, which is located in downtown Syracuse, develops and enhances web visibility for their clients, which include numerous Internet Retailer 100 companies, startups, advocacy groups and political campaigns. The Governor's Office says a combination of $600,000 in funding through the Upstate Revitalization Initiative, along with $4.3 million in performance-based Excelsior Jobs Program tax credits, and $2.4 million of private investment Terakeet will add 200 jobs at its downtown headquarters, while retaining 150 existing jobs.

TCG/Ascension Gaming operates an online marketplace for buyers and sellers of collectible trading cards. It has invested about $255,000 to expand and equip its office and warehousing operations in Syracuse, which will support the group's effort to enter the international marketplace. The expansion also comes with 42 new jobs, adding to its current workforce of 69. The Governor's Office says this is made possible by $50,000 in funding through the Upstate Revitalization Initiative and $300,000 in performance-based Excelsior Jobs Program tax credits.

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