YONKERS, N.Y. -- State Sen. Andrea Stewart-Cousins has announced final approval of a $500,000 state grant to keep Kawasaki Rail Car Inc. and its 375 employees in Yonkers. Stewart-Cousins was joined in the announcement by Empire State Development President and CEO Kenneth Adams and Hiroki Iwasaki, president of Kawasaki Rail Car Inc.
“The state’s assistance toward the purchase of this $25 million facility is a final step to ensure our commitment for Kawasaki to stay in Yonkers," said Stewart-Cousins. “One of our most important jobs, whether in government or the private sector, is to do what we can to continue to make sure we build our economy. By highlighting this ESD grant, we are proving that the best way to do that is by working together.”
This performance-based grant was approved last month by the Empire State Development board of directors, which signals the start of the distribution process for the 2011 agreement between Kawasaki and ESD.
"Kawasaki's decision to reinvest and remain in Yonkers is a huge win for the nearly 400 employees that currently work at their Yonkers factory and a clear demonstration of New York’s improved business climate under Gov. (Andrew) Cuomo," said Adams.
In 2011, Kawasaki committed to purchasing its leased facility for $25 million, and ESD pledged a $500,000 grant to encourage the company to acquire the site.
“We’ve been building American-made rail cars right here for 25 years, and we will continue to do so for many years to come," said Iwasaki. "The state is helping to make it more cost-effective to do business right here in Yonkers."
Kawasaki Rail Car Inc. began operating in Yonkers in 1987 and has manufactured more than 2,700 train cars for mass transit systems.