Joseph T. Ryerson & Sons, a leading value-added processor and distributor of industrial metals,will renovate its manufacturing plant in Lancaster, New York. The $1.5 million project is expected to create 25 jobs.
The company will consolidate a plant currently located out of state into the 3915 Walden Avenue facility and will include the relocation and installation of manufacturing equipment, building renovations, and office space improvements. The upgrade is expected to be complete by the end of 2022.
“ESD has provided Ryerson with valuable incentives allowing our company to maintain its commitment to growth in New York State,” said Matt Propis, General Manager for the Northeast Market for Joseph T. Ryerson & Sons. “After spending nearly 115 years in the state, Ryerson is proud to be able to expand our presence here and provide new manufacturing jobs.”
As an incentive, ESD’s Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. To encourage Ryerson’s investment, ESD is providing Ryerson up to $244,000 in New York State Excelsior Jobs Tax Credits in exchange for the targeted job creation.
Ryerson is a services company that processes and distributes metals, with operations in the United States, Mexico, Canada and China. Founded in 1842, the company is headquartered in Chicago and employs approximately 3,500 employees at about 100 locations.
“New York State takes pride in companies like Ryerson: an equal opportunity employer committed to growth and continuous improvement in delivering quality products and excellent customer experiences,” said Hope Knight, Empire State Development Acting Commissioner and President & CEO-designate. “The Excelsior Jobs Program was devised to attract and retain companies like Ryerson and help them to expand their operations, and we are pleased to help the company play a role in the WNY’s economic future.”