Bantam Tools sets up shop in new Hudson Valley facility

In a press release, ESD said the relocation and investment by Bantam of more than USD 5.3 million will result in the creation of 54 new jobs at the new 8,700 square foot facility. The company, which makes desktop-sized milling machines, is moving to the new location from its current home in Berkeley, California. In August, New York Governor Cuomo announced that Bantam Tools had been awarded USD 10 million as part of the fourth-round of ESD’s Downtown Revitalization Initiative. "Peekskill's wide-ranging assets, from niche markets in arts and entertainment to an award-winning waterfront and parks system, leave no doubt that it's a city on the rise," Governor Cuomo said. "Bantam Tools' expansion will add a new facility and advanced manufacturing jobs to the growing roster of new businesses in Peekskill and further revitalize the Mid-Hudson region." As part of the incentive package, ESD offered up to USD 600,000 in Excelsior Jobs Program tax credits, which are directly linked to job creation. The project also included purchase of the site and transformation of the 100-year old building into the new facility, and capital expenditures. Bantam Tools CEO Bre Pettis said, "We are very excited to officially open the new Bantam Tools manufacturing space and headquarters in Peekskill, New York. This is our first step in creating a hub of innovation and manufacturing in the Hudson Valley. Manufacturing our desktop CNC machines in the United States and specifically, building them in Peekskill, is a great accomplishment. Moving the company from the San Francisco Bay Area to Peekskill signifies a goal to build a sustainable tech company in the Hudson Valley — in an area with a diverse community, natural beauty and affordable living all within an easy distance to New York City— is something that is very important to helping create happy employees."