February 1, 2019 Saratoga County is Global
For over the past two hundred years, Saratoga County has been known as an international destination, prized for its healing mineral waters, horse racing, and Victorian architecture. That international recognition is also conveyed in our trade and commerce industries. Saratoga County is a culturally vibrant, beautiful area that is also connected to the talent and capital of the global market place.
I am the Global Markets Advisor for the Saratoga County Prosperity Partnership and, in this post, I’ll highlight some of the global aspects of our thriving economy. First, we’ll take a look at some of the companies in our county that are owned by companies or investors from other countries. Our local economy benefits from the investments, talent and innovation made through these connections. In subsequent posts, I will introduce you to other companies that are growing through exports. Saratoga County has quite a few home-grown companies reaching markets across the globe. By the way, studies show that most companies that export have an easier time riding out fluctuations in the U.S. economy and are more likely to stay in business — 8.5% less likely to go out of business in a recession.
You may know the largest employer in the county, GLOBALFOUNDRIES,with over 3,000 employees in Malta, NY. With a global manufacturing footprint spanning three continents, GLOBALFOUNDRIES makes possible the technologies and systems that transform industries and give customers the power to shape their markets. GLOBALFOUNDRIES is owned by Mubadala Investment Company, headquartered in Abu Dhabi, United Arab Emirates.
Do you know Evonik? Evonik’s facility is in Waterford, NY, and is one of the world leaders in specialty chemicals. Evonik is headquartered in Essen, Germany, and active in over 100 countries around the world with more than 36,000 employees.
Momentive Performance Materials Inc. Based in Waterford, New York, Momentive develops and manufactures specialty silicones and silanes, as well as fused quartz and specialty ceramics products. The company has a global network of 24 production sites and 12 research and development facilities. Momentive is in the process of merging with South-Korean technology companies SJL Partners LLC, KCC Corp. and Wonik QnC Corp.
A long-term company, SCA Tissue has changed its name. With facilities in in South Glens Falls, Greenwich and Saratoga, many of you should know Essity. The Swedish company, SCA Group, split into two independently listed companies — the forest products company SCA and the newly spun-off Essity. Essity is headquartered in Stockholm, Sweden, and develops, manufactures and sells products and solutions within hygiene and health.
You have likely seen the green and white signs of “America’s most convenient bank” TD Bank. Did you know that it hales from Canada? TD Bank, N.A., is a U.S. national bank and subsidiary of the Canadian multinational Toronto-Dominion Bank, Canada’s second-largest bank and the tenth-largest bank in North America.
If you have turned on a light, you know National Grid. National Grid is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through its networks in New York, Massachusetts, and Rhode Island. National Grid is the largest distributor of natural gas in the Northeast. National Grid is a subsidiary of National Grid PLC headquartered in London, England, United Kingdom.
And new companies are moving to Saratoga County all the time. LISSMAC which is located in Waterford is soon moving to Halfmoon . LISSMAC developed from a construction machinery manufacturer to an international systems partner for highly technical machines and systems. LISSMAC Maschinenbau GmbH is headquartered in Bad Wurzach, Germany, with six locations around the world.
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If you are interested in taking advantage of opportunities in global markets, please take our brief Global Markets Survey so we can better serve you.
For help accessing global markets please contact Mary Estelle Ryckman, Global Markets Advisor, Saratoga County Prosperity Partnership at email@example.com or call 518.871.1887.