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NY Opens Energy Park to Spec Development

The NYS Energy Research and Development Authority has opened a clean energy tech park in Malta, NY to speculative development. Until now, developers could bid only on projects proposed by the Albany-based agency.

By John McCloud | Updated on May 17, 2007

John McCloud is editor of Industry Property Journal, from which this article is excerpted.

Malta, NY—The New York State Energy Research and Development Authority has opened the Saratoga Technology + Energy Park (STEP) here to speculative development. Until now, developers could bid only on projects proposed by Nyserda, an Albany-based public benefit corporation created in 1975 by the New York State Legislature. But the slow pace of development prompted the agency to switch tactics.

Established in 2001, STEP is a 280-acre site master-planned for 1.25 million square feet of office, lab, and light manufacturing. The idea was to develop the former federal defense research facility as a technology park devoted to clean energy, energy efficient and environmental technologies. So far, however, the development has failed to meet expectations of its sponsors, despite an offer of $10 million in incentives to companies that expand clean-energy technology manufacturing in the state.

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