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|Advanced Automation Corporation (AAC) receives EDGE loan|
|Source: EDGE [4/17/2012]|
584 Phoenix Drive
Rome, New York 13441
For immediate release:
Tuesday April 17, 2012
Advanced Automation Corporation (AAC) receives EDGE loan
Rome based, Advanced Automation Corporation (AAC) has received a $50,000 loan from Mohawk Valley EDGE’s Job Development Loan Fund to help the company grow and expand its business.
Funding for the almost $585,000 project comes from EDGE, MORECO, Oneida Savings Bank and owner equity. The company plans on adding 16 jobs in the next two years, while retaining six current jobs.
AAC is a provider of systems engineering services; specialty software products, training, organizational transitions and language translation services to government and contractors within the defense and aerospace industries.
AAC engineers have worked on a wide range of projects for commercial and government agencies; including USSOCOM, USCENTCOM, USASOC, US Navy, Air Force Material Command, US Army and DoD Contractors. They have also provided software and services to BAE Systems, Northrop Grumman Corporation, Lockheed Martin Company, Boeing Company and the Raytheon Company.
“MV EDGE has provided us the opportunity to grow our company and help retain the jobs we have created,” said Dave Tyler, Vice President AAC. “They have been invaluable in helping us navigate the maze of state requirements in applying for aid and tax relief as well as providing us much needed capital at a reasonable cost. They are a critical component in our future success.”
“EDGE is proud to be able to assist in the expansion of Advanced Automation Corporation,” said Steven J. DiMeo, President of Mohawk Valley EDGE. “AAC’s mission is critical to both National defense and a thriving defense contractor ecosystem in the Mohawk Valley.”
EDGE’s Job Development Loan Fund is designed to support private sector investments in projects that result in job growth in Oneida County. It was capitalized with public and private funds and is a traditional revolving loan fund. The program is designed to provide low interest loans to help small existing or startup companies provide new job opportunities, keep existing jobs and to broaden the tax base in Oneida County and provide other benefits to the region’s economy.
Mohawk Valley EDGE is a not-for-profit corporation dedicated to strengthening and growing the economy of the Mohawk Valley.
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Contact: Mary Rizzo Bonney, 315-338-0393
More information can be found at: EDGE