In an effort to stimulate Central New York’s economy, Assemblyman Al Stirpe (D-Cicero) announced that he has secured $4 million for development at Hancock Airpark, a light industrial and office park located in Cicero.

Through Assemblyman Stirpe’s efforts, $8 million was allocated to the Airpark for improvements in the 2008-2009 state budget. However, only half of those funds were made available. Assemblyman Stirpe has now taken action to allow the remainder of the funds to be released for the continuation and expansion of this initiative.

In recent years, Hancock Airpark has been the fastest growing commercial development location in Onondaga County. Efforts to redevelop the Airpark have led to $30 million in private investment, attracting 14 companies and 750 jobs. Redevelopment has also added 50 acres to the tax rolls, reducing the tax burden on families and businesses in Onondaga County.

“This $4 million belongs to Hancock Airpark,” said Assemblyman Stirpe. “These funds will allow for full development of the Airpark, helping put Central New York on the path to a brighter future by creating jobs, attracting business, and generating tax revenue for the county.”

The $4 million secured by Assemblyman Stirpe will be used to tear down abandoned, asbestos-ridden housing from the former Hancock Air Force base, an eyesore to nearby residents and a hindrance to further development. The funds will also be used for infrastructure development to make the site suitable for businesses looking to relocate there. Once fully developed, the Airpark has the potential to create hundreds of new jobs. Upon its completion, Hancock Airpark will have the largest shovel-ready parcel of land available for industrial use in Onondaga County.

“As a result of Assemblyman Stirpe’s efforts, Hancock Airpark now has the funds to maximize its potential,” said Robert Simpson, president of CenterState CEO. “Improved infrastructure at the site paves the way for additional businesses to move in, creating jobs and spurring further growth for our local and regional economies.”

Hancock Field Development Corporation (HFDC), an affiliate of CenterState CEO which operates the Airpark, is coordinating the execution of a master plan to reverse the economic impact and job loss associated with the closing of the former Hancock Air Force base. Capital improvements to date to make the site “shovel ready” for new development opportunities include site clearance of 54 buildings, installation of new HVAC systems, roof and window replacements for existing tenant buildings, road infrastructure improvements, new road construction, and installation of sanitary and storm sewers and detention ponds.