SYRACUSE, N.Y. — NexGen Power Systems moved one step closer to taking over empty space in DeWitt that New York state built to house a light bulb maker.
After a brief phone discussion with NexGen President and CEO Dinesh Ramanathan, the Onondaga County Industrial Development Authority (OCIDA) approved a 15-year, $3.1 million payment in lieu of taxes (PILOT) agreement for the California–based high-tech company that expects to create 290 jobs in the next seven years.
OCIDA also approved a sales-tax exemption on materials the firm buys to improve the facility, saving NexGen up to $40,000.
(Sponsored)

How To Seamlessly & Responsibly Integrate AI Into the Workplace
Artificial intelligence (AI) is one of the hottest topics in today’s tech and office technology thought leadership. Everyone seems to be aware of the capabilities of AI, but some might

What’s on the Horizon for Print Security?
Imagine being robbed…because of your printer. Unfortunately, that scenario played out in real life for an undisclosed number of victims collectively robbed of nearly $1 million worth of Bitcoin due
NexGen holds multiple patents and creates gallium-nitride semiconductor devices. The company says its products allow for the building of smaller and more efficient power converters. Such converters are part of most electronics.
The space NexGen is looking to occupy is an 82,000-square-foot building at 50 Collamer Crossing Parkway originally built, with $90 million in state taxpayer money, to host Soraa, a maker of LED lighting. That company, also based in California, eventually pulled out of the project.
During the phone call, Ramanathan said Empire State Development had approved a $15 million grant for NexGen’s project.
Contact McChesney at cmcchesney@cnybj.com