Pacamor Kubar Bearings has been awarded a $406,000 grant from the State of New York, via the Rensselaer County government. Pacamor's funds are part of group of larger, $1.6 million, New York State Community Development Block Grant and Small Business Assistance Program funding awards. Other portions went to support businesses in Chemung, Rensselaer, Wyoming, Genesee, and Oswego Counties to create approximately 129 new jobs.

PKB manufactures various types of precision ball bearings -- primarily miniature and instrument bearings, but also precision industrial bearings and specialty bearings -- in inch and metric sizes and up to ABEC 9 precision. The company also produces duplex ball bearings.

The funds will help Pacamor acquire more than $700,000 worth of new machinery and equipment and offset working capital expenses. As a result, 26 new jobs will be created at Pacamor's facility in Rensselaer Technology Park.

DHCR Announces Approval of $1.6 Million
in Economic Development Funds to Grow Businesses
New York's Housing and Community Renewal Commissioner, Deborah VanAmerongen, said: "New York State's Community Development Block Grant and Small Business Assistance Programs are generating new economic activity and creating jobs in communities across the state. The funds announced today will provide a boost to local economies and help areas throughout the state recover from the economic downturn."