SARATOGA SPRINGS, Texas (From news reports) -- Quad, the magazine printer that has major operations in Saratoga Springs, is looking to add two new presses at its local site in a $45 million expansion plan.
The Saratoga Economic Development Corp., which has been putting together an economic incentive deal for the project that could reach $9 million, is looking to approve the deal this month.
SEDC said the deal would also preserve 668 current jobs at the Quad facility in addition to adding 74 new jobs.
It was reported that the incentive package would include $2.25 million from National Grid and $6 million in incentives from Empire State Development.
Joel Quadracci, CEO of Quad, which used to be known as Quad/Graphics, said in a statement that the project would "strengthen our core manufacturing platform" as the company looks to streamline and automate its operations. He did not address whether or not Saratoga Springs was in competition with another site in Wisconsin.
"Quad has been a proud member of the Saratoga Springs community for 35 years. During that time, we've employed hundreds of community members in family-supporting jobs and built a strong base of operations that serves clients in a variety of verticals, including publishing, direct-to-consumer and retail," Quadracci said. "The investment in new printing press and ancillary equipment will enhance the industry-leading capabilities we already have in place, and position the Saratoga Springs facility for future growth."
Quad, however, is not right now making any capital investments until the coronavirus pandemic is more under control.
"Because we do not yet know the duration of the COVID-19 pandemic, the capital expenditure for this project, including building modifications and equipment installations, will be frozen until we can understand the impact of the pandemic on our clients," Quadracci said.