As part of an expansion in Rochester, New Hampshire, Albany Engineered Composites, an aerospace composites maker, will add 500 jobs over the next several years. The company already employs approximately 225 people at its existing Rochester plant.

"Albany could have chosen to locate this new facility elsewhere, but they recognized that we have a winning economic strategy in place here in New Hampshire. We worked intensively with the company over the past two years to bring this new plant and hundreds of jobs to Rochester," said Governor John Lynch.

The company will also relocate its corporate headquarters from New York to New Hampshire. The state will offer incentives in the form of job training through community colleges, as well as employment security.