iPark has tenants signed up, including the maker of beverage components
HOPEWELL JUNCTION – After being dormant for years, the IBM campus 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 on Thursday of what they are calling the iPark, 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 2.5-million square feet space 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. She laid out what the vision is for the iPark.
Ward: “It’s a big mixed use
“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.”
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.”
iPark already has tenants. Ward said they will have businesses operating within the revamped campus in a matter of weeks.
Drink More Good, which makes syrup for a healthier soda, is ready to
move in. Columbia County company Sloop Brewing will also be
setting up shop with a second location at iPark.
