WATERFORD, N.Y. (July 21, 2008) — Momentive Performance Materials Inc. said it will build a technology center and global headquarters in Rensselaer County, N.Y.
The company announced on July 10 that it will close its headquarters in Wilton, Conn., when its lease expires at the end of August.
The new facilities will employ 250, with 150 of those jobs new to the region, the company said.
“In these difficult economic times, New York needs to make smart investments that create jobs and help improve the local economy. This does both,” Governor David Paterson said. “We are delighted that Momentive is moving their global headquarters to the Capital Region.”
Construction on the technology center is expected to begin in 2009, with construction of the head office to begin following the tech centers completion.
The technology center will cost approximately $65 million, while the new main office is expected to cost $16 million.
Momentive produces silicones and silicone derivatives in addition to developing and manufacturing products derived from quartz and specialty ceramics. The company was created from the sale of GE Advanced Materials to Apollo Management L.P. in December 2006.