News
November 17, 2020P1 Ventures to Move Production Line from Colorado to New York
The Schenectady County Metroplex Development Authority announced that P1 Ventures will relocate manufacturing work from Colorado to New York creating 50 new jobs in Schenectady County. The company will open its third manufacturing facility in Schenectady and expand its software business in downtown Schenectady.
P1 Ventures will lease over 18,000 square feet at 1910 Maxon Road for the new manufacturing operation that will be relocated to Schenectady from Louisville, Colorado. P1 has a longstanding relationship with a company called Isolate Extraction Systems (IES) that builds supercritical CO2 equipment that extracts nutrients and chemicals from plants. The business serves the fast-growing CBD sector. The IES facility in Colorado will remain open as a sales and marketing operation and a service shop while all core manufacturing work is shifted to Schenectady. “We are pleased to see the continued growth and success of P1 Ventures. This latest expansion creates new manufacturing jobs that we need as Schenectady County works to recover from the pandemic,” said Anthony Jasenski, Chair of the Schenectady County Legislature.
Mayor Gary McCarthy said, “As we look to build back better from the economic impact of the COVID-19 pandemic, we are excited to see P1 Ventures grow here in Schenectady and we look forward to their continued success in our community.”
The Maxon Road facility will be P1’s third manufacturing operation in Schenectady. The company current operates manufacturing plants located on Mohawk Avenue and Technology Drive. The company also has its headquarters at 414 Union Street, a building that P1purchased and renovated.
