AMSTERDAM, N.Y. — TES Corp., doing business as New Process Cleaners, will use a $100,000 business development loan to develop a new Laundromat and a drop-off point here for its drycleaning services, according to the Montgomery County Business Development Center.
Montgomery County legislators recently approved the revolving fund loan that is payable within seven years at 3.5% interest.
New Process Cleaners will purchase a longtime vacant commercial building here on Division Street to be renovated and utilized as a Laundromat and drycleaning drop-off and pickup point. It has agreed to retain six full-time-equivalent employees and create four additional positions within three years in conjunction with receiving the loan, the MCBDC reports in a press release.
Local published reports put the total project cost at around $245,000.
New Process’ current Amsterdam facility is located on Brookside Avenue, while its drycleaning facility is in Johnstown, roughly 11 miles away. The new retail location in Amsterdam will act as a drop-off and pickup location where garments will be transferred to the processing plant in Johnstown for servicing.
“The approval of the loan to TES Corp. and New Process Cleaners, which will retain and create jobs, is indicative of the momentum of our local economic development efforts and the local economy,” says Montgomery County Executive Matthew J. Ossenfort. “This is highlighted by the recent numbers that show our private sector job growth rate is higher than the state’s average and the county’s unemployment is the lowest it’s been in a decade.”
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