TechCity. Image courtesy of CommercialEdge
Vancouver-based Zinc8 Energy Solutions Inc. intends to set up the headquarters of Zinc8 Energy Solutions USA and its first U.S.-based production facility in a 237,000-square-foot space at iPark 87, National Resources‘ $100 million business campus in Kingston, N.Y.
News of Zinc8’s signing of a letter of intent to lease at iPark 87 follows the company’s September 2022 announcement revealing that it had chosen to establish its inaugural production facility in the U.S., having been enticed by the manufacturing production credits made available through the new Inflation Reduction Act. The State of New York courted the company, offering incentives, including a grant of as much as $9 million from Empire State Development to support the company’s anticipated creation of 500 new jobs.
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If lease negotiations go as planned, Zinc8 will serve as the anchor tenant at iPark 87, the sprawling former IBM campus later renamed TechCity. The energy storage company had no shortage of options for a home in New York but settled on the Ulster County site for a handful of notable reasons.
“Zinc8 worked with Ramboll Engineering to assess a variety of facilities and communities; we felt that Kingston’s proximity to the Upstate New York and New York City markets, transportation routes and labor availability made it a strong choice,” Mark Baggio, vice president of business development with Zinc8 Energy Solutions Inc., told Commercial Property Executive. “Additionally, it offered the most room for growth both indoor and outdoor at site.”
Zinc8 expects to invest $68 million in the automation and build out of its new digs at iPark 87 over a five-year period. The company will count LED lighting manufacturer RBW as one of its neighbors at the campus.
Kickstarting a new incarnation
At iPark 87, Zinc8 will have both warehouse and outdoor space to call its own. However, the company will also have access to the varied uses National Resources is planning to offer at what will be a 200-acre, mixed-use technology campus centered on sustainability. At full build-out, the property will comprise 3 million square feet of warehouse/commercial space in addition to a residential segment with a net-zero carbon footprint. Amenities are set to include walking and biking trails, pocket parks and a wellness and arts center.
The Zinc8 commitment draws positive attention to iPark 87’s new life as a sustainable destination after the one-time IBM complex suffered asbestos contamination in its days as the TechCity industrial park. With the assistance of the U.S. Environmental Protection Agency and the New York State Department of Labor, Ulster County initiated the remediation of the campus. And following a foreclosure action involving the previous owner of the site, National Resources acquired the property and completed the asbestos-cleanup process. National Resources and Ulster County solidified the purchase and sale agreement for multiple parcels in June 2022.
