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“Nano Utica”-Area’s Next “Loom-To-Boom” Era?

Kristine Bellino/WIBX

The “Nano Utica” announcement Thursday has given rise to much excitement among area officials and business owners. As reported by WIBX 950, the development of “Nano Utica” will bring an investment of some $1.5 billion dollars and 1000 jobs to the Mohawk Valley and that’s just the beginning.

Those new jobs could mean increased hiring by other businesses as the high tech payrolls would mean more disposable income to be spent in the area. Could it be the start of another “loom to boom” era? Some of us old enough to remember the 1950′s and 60′s recall the change in local economies as the old textile industries closed up shop and moved south and, according to the Oneida County Historical Society, manufacturing concerns came in to fill the void.

Leaders throughout the county had begun laying the groundwork for an industrial recovery by forming industrial development corporations. They were prepared to provide land and underwrite other costs for new businesses interested in building in the county. And those companies came: Chicago Pneumatic Tool in 1948, Bendix in 1951, General Electric in 1953 and Sperry-Rand’s UNIVAC in 1957.

via Textile Industry.

Those businesses created thousands of new jobs and while the new “Nano Utica” development may seem small in comparison it could mean the beginning of an entirely new “boom” era for the Mohawk Valley.

 

 

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