Lt. Gov. Kim Guadagno continued her tour of 100 New Jersey businesses with her 57th stop Monday afternoon. This time, she paid a call to PNY Technologies in Parsippany to meet with company executives about the coming expansion of the firm, which specializes in computer memory and graphics technology.
"This is a real good business news story for New Jersey," Guadagno said.
According to the lieutenant governor, PNY Technologies considered moving its manufacturing base out of the state.
"We offered a number of incentive programs to PNY, but they chose not to take advantage of them," Guadagno said. "This proves businesses can come to New Jersey and thrive without incentives."
PNY Technologies was founded in Brooklyn in 1985 and opened its Parsippany location at 299 Webro Rd. in 1997. Now the company is preparing for a move around the corner to 100 Jefferson Rd. in October or November, according to Chief Financial Officer Samuel A. Judd.
Judd, along with Gadi Cohen, the company's founder, president and CEO, and Vice President of Finance Mark Ciano, took the lieutenant governor on a tour of both the present and future PNY sites. The tour allowed participants to see manufacturing employees hard at work assembling flash and USB drives and memory cards for computers, cameras and cell phones.
The new Jefferson Road site gives PNY the opportunity for more growth. Judd says that about 350 permanent employees and more than 100 temporary workers staff the 160,000 square foot Webro Road building. The new facility, which is being remodeled, offers more than 600,000 square feet and will allow the company ultimately to create new jobs in Parsippany.
Founder Gadi Cohen told the lieutenant governor about PNY's attitude toward manufacturing.
"You've heard about 'Made in the U.S.?' Well, we mean it," he said, noting that PNY workers create products and packaging in-house. "We create our own destiny. We don't rely on China or other companies in other countries to provide parts and components. We do it ourselves right here."
PNY does it to the tune of producing more than 50 million units per year, according to Judd.
The new building will be environmentally forward too, said Judd. The entire roof will be covered in solar panels, which will provide about 1/3 of PNY's energy needs.
"This really is good news," said Guadagno. "[PNY is] putting the lie to the idea that we can't make things, and make them better, right here in New Jersey."
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