EDGE issues $50,000 loan
Advanced Automation Corp., 201 Mill St., has received a $50,000 loan from Mohawk Valley EDGE’s Job Development Loan Fund to help the company expand its business.
The company plans on adding 16 jobs in the next two years, while retaining six current jobs, according to EDGE. Funding for the almost $585,000 project comes from EDGE, MORECO, Oneida Savings Bank and owner equity.
AAC is a provider of systems engineering services, specialty software products, and training, organizational transitions and language translation services to government and contractors within the defense and aerospace industries.
"MV EDGE has provided us the opportunity to grow our company and help retain the jobs we have created," said Dave Tyler, AAC vice president. "They have been invaluable in helping us navigate the maze of state requirements in applying for aid and tax relief as well as providing us much needed capital at a reasonable cost. They are a critical component in our future success."