JCIDA: Convalt Energy and DigiCollect sign land development agreement

WATERTOWN, NY – The Jefferson County Industrial Development Agency has a signed Land Development Agreement (LDA) with Convalt Energy and DigiCollect, 2 businesses expected to build new manufacturing facilities at the Watertown International Airport Business Park site.

The LDA allows the businesses to begin site testing and planning in anticipation of a potential 300,000 sqft. facility on the eastern parcel and a 50,000 sqft. facility on the western parcel. The JCIDA would transfer ownership of the properties only after the companies have obtained all necessary permits and approvals, and after obtaining the permanent financing to begin construction.

“We are excited to work with Convalt and DigiCollect on this exciting project. The LDA is a critical first step to getting the buildings built and people employed,” said David J. Zembiec, CEO of Jefferson County Economic Development.

Hari Achuthan, CEO of ACO Investments, the parent company of both Convalt Energy and DigiCollect noted, “Dave and his team at Jefferson County Economic Development have been great to work with on this project. We had opportunities to locate these projects in other states; but upon visiting the available sites in Jefferson County and the importance of USA Made in New York as a global brand, trying to get these manufacturing and engineering facilities up and running here really made the most sense. We are pushing hard to make this project a reality.”

Convalt Energy expects to build a plant that will construct Solar Panels for distribution worldwide and employ potentially thousands of people. DigiCollect will make sensors for the energy industry as well as a suite of software solutions.

There will also be a data center attached to the DigiCollect facility.

Next steps to finalize the project include getting a Payment in Lieu of Taxes (PILOT) approved and putting together the financial package for necessary working capital.

News release