Business News from Saratoga Economic Development Corp.; 150 new jobs for Saratoga County.SARATOGA SPRINGS Saratoga Springs, resort and residential city (1990 pop. 25,001), Saratoga co., E N.Y.; inc. as a village 1826, as a city 1915. Skidmore College is the largest source of employment, but the city also has light manufacturing. , N.Y.--(BUSINESS WIRE)--Jan. 15, 1997--The creation of upwards of 150 new jobs could occur over the next couple of years as the result of the acquisition of a Saratoga County firm by a Utah company, according to Kenneth A. Green, president of the Saratoga Economic Development Corp. Merit Medical Systems Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MMSI MMSI Maritime Mobile Service Identity MMSI Miniature Munitions/Store Interface MMSI Military Membership Status Identifier ) will acquire the assets of Universal Medical Instrument (UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) ), a privately held medical device manufacturer based in the Town of Malta. The shareholders of UMI have approved the sale of substantially all of the business and operating assets Operating Assets Another term for working capital. of the company for shares of Merit common stock. Green said that he was personally pleased because, "We are able to not only save the jobs of 42 people, but also provide for substantial growth in that company." Green said the details of the project were finalized during the Christmas Holiday and "our partners in economic development took time away from their families to make this happen." The South Jordan, Utah South Jordan is a city in Salt Lake County in the U.S. state of Utah. The population was 29,437 at the 2000 census. As of September 1, 2007, the population was estimated at 50,109 [1]. South Jordan has been one of the fastest-growing cities in Utah since the early 1990s. , based Merit Medical is a leader in the development, manufacturer and distribution of disposable proprietary medical products used in interventional diagnostic procedures, especially in cardiology and radiology. Founded in 1987, Merit serves client hospitals worldwide. Fred P. Lampropoulos, chairman of Merit said the decision to grow in Upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. was reached because of the past relationship Merit has had with UMI and because of the pro-business atmosphere of the Pataki Administration. Lampropoulos thanked officials from Empire State Development, the Saratoga Economic Development Corporation, the Town of Malta and the Niagara Mohawk Power Corporation for their assistance. "This transaction will assist Merit in several areas of the company's strategy," Lampropoulos noted. "We came to Saratoga because of a highly trained technical work force that is here, along with the availability of an excellent assembly staff." He added that Merit plans to conduct $1.5-million in research and development at the Saratoga County facility. Governor George E. Pataki said, "Like more and more business leaders everyday, Merit Medical System recognizes that New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State can once again compete with any state in the nation. For far too many years, we watched jobs leave our communities because of high taxes and excessive regulations. Today, New York is once again attracting and creating new jobs because we have cut taxes, controlled government spending and sliced through the red tape. "Merit is a Utah-based, worldwide, growing medical instrument company and they saw and heard about the State's economic renewal, and decided they wanted to share in our success. I congratulate Merit for its investment and its commitment to creating jobs in New York," Pataki said. "I'm pleased that this Saratoga County-based company is growing and will soon be home to many new employees," New York State Senate The New York State Senate is one of two houses in the New York State Legislature and has members each elected to two-year terms. The state Constitution provides that the default membership be fifty members. Majority Leader Joseph L. Bruno said. "Saratoga County is doing an excellent job in fostering economic development growth. This is another example of how our agenda of cutting taxes has made New York more competitive and has resulted in the creation of new jobs." Bruno's district includes the Town of Malta. David R. Meager mea·ger also mea·gre adj. 1. Deficient in quantity, fullness, or extent; scanty. 2. Deficient in richness, fertility, or vigor; feeble: the meager soil of an eroded plain. 3. , supervisor of the Town of Malta, said this is another example of how things get done in Saratoga County. "We worked hard to save these jobs and we'll do it again, if we have to," Meager noted, who has just finished 25 years as supervisor. Meager credited the work of the Middle Town's Economic Development Task Force. "You know, when you talk economic development, economic development happens. We're going to keep on talking," he said. CONTACT: Kenneth A. Green, Saratoga Economic Development Corp. 518-587-0945 |
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