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State, Local Funding Helps Newtex Industries Expand in Victor, New York

09/09/2010
Newtex Industries will receive $720,000 from the Ontario County Economic Development Corporation, PathStone, and Empire State Development Corporation to upgrade its Victor, New York, facility. The plant produces Newtex's Z-Flex Aluminized products. The company also makes heat- and fire-resistant textiles.

"We are lucky to have organizations like Ontario County EDC, PathStone, and Empire State Development working overtime to support businesses like ours in bringing new technology and jobs to the region. I am grateful that these development agencies understood the significance of their support to both our project, our future, and to the continued employment of our dedicated and talented work force. In a time when conventional lending was non-existent, they have all made a real difference," said Jerry Joliet, Newtex CEO.

The company will make an additional $60,000 equity investment towards the project. It is expected to create more than 10 jobs in the coming three years.

Newtex products are used in a number of industries and in specialized firefighting apparel.

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