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IBM to Sell 4.1M-SF Endicott Campus

NEW YORK CITY-After selling off its original facility to a newly formed entity, the computer giant will lease back 1.4-million-sf in a 10-year deal. All 4,000 employees at the upstate complex will keep their jobs.

By Glen Thompson | Updated on July 02, 2002

NEW YORK CITY-A newly formed entity will spend $100 million toward the acquisition of IBM’s 4.1-million-sf Endicott Campus in upstate Endicott. A-1.4 million-foot chunk of the property will be leased back to IBM. Governor George Pataki revealed the state-brokered deal, which is expected to retain roughly 4,000 area jobs.

The buyer, Endicott Interconnect Technologies Inc., is a partnership of area investors principally backed by Maines Paper and Food Service owners David and Bill Maines, and James Matthews of the MATCO Electronics Group. Neither the full sale price nor details of IBM’s 10-year lease at the Endicott facility have been released.

Though IBM is selling the Broome County facility where the company was founded in 1906, the computer giant’s employees will continue to occupy the entire complex. While roughly 800 employees have been let go from the Endicott operation over the last year, 2,000 remaining employees will continue with IBM, while the rest will reportedly work for Endicott Interconnect.

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