Village Ponders Future Of Endicott Interconnect
Elected officials and residents of Broome County are expressing concern in the aftermath of the bankruptcy filing by Endicott Interconnect Technologies.
The company started operations in late 2002 with two-thousand employees. The current EIT workforce now may be about one-quarter of its original size.
Endicott mayor John Bertoni recalled the large contingent of state and local officials who were on hand in July 2002 when the creation of EIT was announced in a bid to save the jobs of thousands of IBM workers.
Speaking on WNBF Radio’s Binghamton Now program, Bertoni said Endicott Interconnect officials haven’t kept him or village officials informed about the company’s financial situation.
Bertoni expressed hope that the planned restructuring of EIT will be successful and the business will continue to contribute to the village.
The mayor noted Huron Real Estate Associates, an entity that was created in conjunction with the 2002 IBM deal involving the state, recently received a big reduction in its property tax assessment.
Bertoni wondered whether that savings by Huron ultimately was passed on to Endicott Interconnect to reduce its overall costs.
Bertoni said he has “full faith” in EIT employees and he’s concerned about what they and their families have been going through because of the uncertainties they’ve experienced over the past several years.
EIT workers have been told the company is seeking “all qualified buyers” and that the company is reviewing a “competitive bid” from the Matthews family.
Employees also were advised that workforce levels are “continually evaluated” based on customer demands.