HOPEWELL JUNCTION – After
being dormant for years, the IBM campus location in Hopewell Junction
is finally being utilized again for technology, with an added twist.
National Resources, along with local elected officials and business leaders,
celebrated the unveiling of what they are calling the iPark, Thursday
a space for local businesses in technology, food, beverage and others,
sharing the space with technology manufacturer Global Foundries.
So far, the investment from National Resources, with a company practice
to acquire old buildings with good existing infrastructure in order to
modernize, has been $25 million, with an additional $300 million projected
for future tenants.
The space is 2.5-million square feet, and is expected to grow to over
5-million square feet within five years. They expect to create between
500 and 1,000 permanent jobs with the iPark.
Executive VP of National Resources Lynne Ward said they have been involved
in the acquisition since 2014, spent the last few months preparing for
tenants and are hoping to have eight to 10 businesses operating in the
park eventually.
Ward laid out what the vision is for the iPark.
“It’s a big, mixed use,” said Ward. “It’s
going to have some residential in the last phase. It’s going to
have some retail and it’s going to have all the buildings reused,
and some new, high-cube distribution centers,” she said.
IBM leaving Hopewell was a huge economic blow to the area and has been
missed for the staple it was, as well as for the workforce it nourished.
Dutchess County Executive Marcus Molinaro said although tech is not new
to Dutchess, he sees the unique iPark project bringing life back into
the area that was such a huge economic engine.
“Technology, and in particular data, has remained a major focus
of Dutchess County’s economic development efforts, but what’s
unique about this announcement and what National Resources brings, is
really a diversification of the campus,” said Molinaro. “So,
it’s not all eggs in one basket; but, rather creating that hub where
multiple businesses, multiple employers, will be on site, on campus interacting
and working together, and creating a community,” he said.
iPark already has tenants, one being Sloop, which makes a syrup for a
healthier soda, many ready to move in and Ward said they will have businesses
operating within the revamped campus in a matter of weeks.
