Endicott’s Failed Gigafactory: “iM3NY” Sign Finally Removed
Eight years after Governor Andrew Cuomo unveiled plans for a lithium-ion battery plant in Endicott, the name of the company has been unceremoniously taken down.
The large black, white and red "iM3NY" logo that had graced a former IBM building on the Huron Campus was removed a few days ago.
In October 2017, Cuomo announced the $140 million "gigafactory" would produce 700 batteries a minute using 400,000 square feet of space on Endicott's North Side.
The governor said the company - officially called Imperium3 New York - eventually could employ more than 1,000 people at the site. But things didn't work out that way.
The fledgling firm encountered technological and financial difficulties. It laid off about 50 workers last October.
The company eventually burned through all of the cash it had and filed for bankruptcy last January.
According to the bankruptcy filing, iM3NY's total debt exceeded $142 million.
A liquidation auction to sell the equipment at the idled facility was held in June.
Although the assets inside have been sold, about a dozen cars were observed in the former iM3NY parking lot on Monday.
It's unclear what will happen to the building. Chris Pelto, who oversees the Huron Campus property, said he believes there are "good prospects" that a new entity will set up operations at the site. The long-term goal is to develop a profitable lithium-ion battery manufacturing plant.
Broome County economic development officials on Thursday will announce details of a "comprehensive master facilities plan" for the Huron Campus property. The site had been home to the IBM Endicott manufacturing complex. The company sold the property in 2002
WNBF NEWS VIDEO: A look outside the iM3NY Endicott facility after the company filed for bankruptcy in January 2025.
Contact WNBF News reporter Bob Joseph: bob@wnbf.com or call (607) 545-2250. For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.
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