Moley Magnetics Reshores Jobs From Italy to Lockport, New York
02/16/2016
John Moley, President, Moley Magnetics, Inc. said, “Bringing this production back to New York is an important priority for Moley Magnetics. We look forward to expanding in Lockport, adding jobs, and continuing to provide the best quality customer service possible.”
The $2.1 million project includes the purchase and renovation of a building adjacent to Moley Magnetics current location in Lockport. The project also involves the purchase of new machinery and equipment, as well as furniture and fixtures which will allow the company to diminish Italian operations and bring 41 new full-time employees to Niagara County by June 20, 2020.
As an incentive Empire State Development will provide up to $900,000 in performance-based Excelsior Jobs Program tax credits in return for job creation commitments. If ESD did not incentivize this project, the company would not be able to reduce production in Italy and continue to grow in Lockport.
“By leveraging investments in manufacturing and technology, we’re expanding economic opportunity and bringing jobs back to the region,” Governor Andrew Cuomo said. “This investment will further strengthen Western New York's economy and further cement the region's reputation as a hub for smart economic development.”
Project Announcements
Kikkoman Foods Plans Jefferson, Wisconsin, Operations
04/26/2024
BWX Technologies Expands Cambridge, Ontario, Nuclear Production Operations
04/26/2024
Greenheck Group Plans Knoxville, Tennessee, Operations
04/26/2024
Local Bounti Plans Pasco, Washington, Indoor Agricultural Operations
04/26/2024
Innovative Construction Group Plans Siler City, North Carolina, Production Operations
04/26/2024
Crystal Window and Door Systems Plans Mansfield, Texas, Headquarters-Production Operations
04/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024