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4/4/2019 - Hamilton Looks to Attract New Princetel Facility Following Trenton’s Rejection of Company’s Redevelopment Plan

 

Hamilton Looks to Attract New Princetel Facility Following Trenton’s Rejection of Company’s Redevelopment Plan

Mayor Yaede and Hamilton’s Department of Economic Development wasted little time reaching out to one local company following the City of Trenton’s rejection of its redevelopment plan.

Princetel, a high-tech, fiber-optics manufacturer, moved its headquarters to Hamilton in 2011 and had no plans to move its existing 41,500-square-foot, East State Street facility during the company’s quest to relocate its White Plains, NY facility to Trenton’s former Roebling complex.

Following the rejection, Princetel CEO Barry Zhang announced that his company would now look to Hamilton as a potential home for its new facility; and Mayor Kelly Yaede is eager for Hamilton to capitalize on this economic opportunity that could bring as many as 400 jobs over the next decade.

“We have already met with Mr.  Zhang to personally express our desire for Princetel to find a home for its new facility in Hamilton, where its headquarters already resides,” explains Mayor Kelly Yaede.  “We provided Mr. Zhang with information regarding some existing, Hamilton-based properties that might meet Princetel’s needs.”

Back in 2014, Mayor Yaede joined Zhang and Princetel to celebrate their facility becoming the first industrial building in the state to earn LEED Platinum status for sustainability efforts.  In 2016, Princetel was one of three recipients of Hamilton’s Environmental Awards.  Previously, in 2012, Princetel also received a beautification award at Hamilton’s annual Economic Development Distinguished Business Awards Dinner. 

While Hamilton’s Director of Economic Development, Marty Flynn, noted that Princetel – like any other business – would be subject to local land use laws and possible board approvals for any project to move forward – he expressed hope that Princetel will be able to find a suitable location in Hamilton that will meet their growing company’s needs.

“Under Mayor Yaede’s leadership, Hamilton continues to attract new business and witness the expansion and ongoing success of so many of our existing, hometown businesses,” says Flynn.  “A lot of that success is driven by Mayor Yaede’s desire to make it easy for businesses to go through the land use approval process and to have preliminary meetings with township officials to reduce unnecessary time and costs for applicants.”