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Tonko Tour AMRI in Rensselaer

Rep. meets with team at manufacturing site that employs 650+ in Capital Region

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RENSSELAER, June 30, 2016 | Sean Magers (202-225-5076) | comments
"AMRI is a prime example of innovation and drive in the Capital Region’s manufacturing sector," said Tonko.
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Congressman Paul Tonko (NY-20) toured Albany Molecular Research Inc.’s (AMRI) Rensselaer site Wednesday to discuss the company’s business plans and what Congress can do to assist regional businesses to grow and hire locally. The AMRI Rensselaer site is located in a designated Foreign-Trade Zone (FTZ), a program run by the Capital District Regional Planning Commission, which allows local businesses to keep import costs low and boosts American manufacturing exports.

“AMRI is a prime example of innovation and drive in the Capital Region’s manufacturing sector,” said Tonko. “The good work done here boosts our economy and contributes to the health of our nation. With AMRI and similar companies, our area has an opportunity to lead drug development that can make the recent Cancer Moonshot Initiative announced by the White House a success, and find a cure for one of the most destructive diseases we know. I have been proud to work with our local FTZ and businesses like AMRI to provide opportunity to create quality jobs, contribute to the local economy, grow exports, and make our area more attractive for more companies to move to the region.”

“We thank Representative Tonko for taking the time to tour our facility and highlighting the importance of science companies in bringing quality jobs to upstate New York,” said William Marth, president and CEO of AMRI. “AMRI is growing quickly, and we are bringing in new jobs to the region. We appreciate that our elected officials understand that companies that rely on science are important to the health of our local economies and will provide the jobs of the future.”

FTZs stimulate international trade, helping to create jobs and investment domestically rather than abroad. Foreign goods may enter a FTZ duty-free and without government excise taxes. As those goods are developed into new products, the products can be exported without additional duties or further taxes.  In 1985, the U.S. Department of Commerce granted authority to the Capital District Regional Planning Committee to establish an FTZ which now covers 10 counties: Albany, Columbia, Greene, Fulton, Montgomery, Rensselaer, Saratoga, Schenectady, Warren and Washington counties.

Headquartered in Albany, AMRI was founded in 1991 and is a fast-growing contract research organization serving the branded and generic pharmaceutical market. The business is focused on three areas: drug discovery and development services, API manufacturing and drug product manufacturing. AMRI in its 25-year history has grown steadily and reported revenues of $402 million in 2015. In addition to its headquarters in Albany, AMRI has New York facilities in Rensselaer, East Greenbush and Buffalo.

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