Advertisement. Advertise with us

Campaign Underway To Keep

Ioxus Here, Zakrevsky Tells City

By LIBBY CUDMORE • Special to www.AllOTSEGO.com

ONEONTA – Otsego Now President Jody Zakrevsky may save Ioxus.

“Ioxus is in the process of being sold to XS Power Batteries,” he said, appearing Tuesday, Nov. 17, at Common Council, via Zoom. Its CEO Scottie Johnson “indicated he was planning on closing Ioxus and moving the company to Knoxville, Tenn., but we worked with him to keep the facility here.”

Doing so, he said, would invest $14 million in expanding the building and double the current employment at the company.

XS Power Batteries, based in Knoxville, is “a premium battery group and one of the fastest-growing players in vehicle and stationary battery space.”

“He plans on expanding his product line,” said Zakrevsky. “He wants to get into ultra-capacitors. We can keep him here and grow his company.”

Initially, he said, Johnson was interested in purchasing the equipment and moving it to his Knoxville location, but the equipment was too big to move and the plant there was too small to accommodate it.

Instead, Zakrevsky put together “a strong package,” with a PILOT agreement, sales-tax exemptions and a $1 million Empire State Development Excelsior Tax Credit award.

He also had Johnson meet with the Otsego County Chamber and local realtors who showed houses. They engaged in a discussion with U.S. Sen. Chuck Schumer, D-NY, and heard a presentation from the state Power Authority.

“I think he appreciated that,” he said.
Zakrevsky said “it’s not a done deal,” but “it’s going forward.”

Posted

1 Comment

  1. Whatever package they come up with they will have to add on an extra $5m in damages that the judge has awarded to CAP-XX for Ioxus infringing their patents.

Leave a Reply

Your email address will not be published.

Related Articles

SCOLINOS: It’s All We Need To Know: Home Plate 17 Inches Wide

COLUMN VIEW FROM THE GAME It’s All We Need To Know: Home Plate 17 Inches Wide Editor’s Note:  Tim Mead, incoming Baseball Hall of Fame president, cited John Scolinos, baseball coach at his alma mater, Cal Poly Pomona, as a lifelong inspiration, particularly Scolinos’ famous speech “17 Inches.” Chris Sperry, who published sperrybaseballlife.com, heard Scolinos deliver a version in 1996 at the American Baseball Coaches Association in Nashville, and wrote this reminiscence in 1916 in his “Baseball Thoughts” column. By CHRIS SPERRY • from www.sperrybaseballlife.com In 1996, Coach Scolinos was 78 years old and five years retired from a college coaching…

Sports Can Resume, Superintendents Told

CLICK HERE FOR MEMO TO SCHOOLS Sports Can Resume, Superintendents Told COOPERSTOWN – In a memo released Friday evening, county Public Health Director Heidi Bond advised local school superintendents that sports can resume as early as Monday. “Effective Feb. 1, participants in higher-risk sports may participate in individual or distanced group training and organized no/low-contact group training,” Bond wrote, “…including competitions and tournaments, if permitted by local health authorities.”…

Killer Ricky Knapp Dies In Prison

Killer Knapp Dies In Prison; Guilty In SUNY Coed’s Death ONEONTA – Ricky Knapp, the man convicted of the 1977 death of SUNY Oneonta student, has died in Mohawk Correctional Facility, according to prison records. Knapp, 66, died March 8, having served 40 years of a 25-to-life sentence for a 1978 manslaughter conviction in the death of 18-year-old Linda Velzy, a SUNY student from Long Island. According to reports, Velzy was last seen Dec. 9 1977, hitchhiking in downtown Oneonta.…