ROME, N.Y. — Bonacio Construction Inc. on Wednesday held a “beam-raising ceremony” for the construction of its latest “high-tech” office building construction project at 184 Hangar Road at the Griffiss Business and Technology Park in Rome.
Bonacio Construction, which is based in Saratoga Springs, purchased three acres of land from Griffiss Local Development Corporation (GLDC) for the project’s first phase. It will include three-story, 45,000-square-foot office building.
The estimated cost of the project is $9 million, and the company expects crews to finish construction in 2021, per a Wednesday news release about the project.
Two office tenants who serve the intelligence and cybersecurity industries will lease the building. They include SIEGE Technologies and an undisclosed tenant.
The tenants will independently fit-up their leased spaces which include both office and specialized SCIF (sensitive compartmented information facility) space.
The project is supported by a payment in lieu of taxes (PILOT) agreement from the Oneida County Industrial Development Agency. The property was vacant and collecting “zero tax revenue prior to this project,” per the release.
“We’re excited to continue building our relationship with GLDC and to be given the opportunity to create a new home for these two important companies,” Sonny Bonacio, president of Bonacio Construction, said. “It’s been a pleasure working with the teams at SIEGE Technologies to design and construct their new headquarters. We hope the finished product will serve them well for many years to come.”
The cybersecurity industry is a “key priority” of investment for the Mohawk Valley Regional Economic Development Council.
Since 2015, professional, scientific, and technical sector has grown over 25 percent “in large part” from growth in the region’s cyber and [information technology (IT)] cluster. As the Air Force Research Laboratory (AFRL) continues to grow and diversify its areas of research, the number of private firms supporting this research “also grows.”
AFRL focuses on areas that include command and control, communications, computers, and intelligence. This work enabled homegrown IT companies such as Assured Information Security in Rome and Black River Systems Co. of Utica to start and grow, and it also attracted firms such as BAE Systems and Booz Allen Hamilton.
The project will support SIEGE Technologies as well as an additional tech company in their growth with each company leasing half of the new building.
This “ecosystem” of private cyber and IT employers — centered at the Griffiss Business & Technology Park — contributes roughly $300 million to the region’s economy and complements the $467+ million economic impact of AFRL.
“Even as the nation recovers from these difficult times, the Griffiss Business & Tech Park continues to generate economic benefits to the area,” Elis DeLia, chair of the Griffiss Local Development Corporation, said. “GLDC is proud to have another building contribute to local tax revenue, create jobs, keep businesses operating and reinforce the foundations of AFRL.”