Thuro Metal Products Upgrades Its Brentwood, New York, Manufacturing Facility
“We knew that investing in modernizing our operations would enable us to compete in the European market while manufacturing our products in New York. There is a significant advantage in the exchange rate and we are holding ourselves to the European standards of Automotive Production Control, which will put us in a class above those only supplying the domestic market,” said David A. Thuro, President, Thuro Metal Products, Inc. “After the first production shipments from Thuro’s New York facilities were made to the Netherlands and Turkey, we developed new programs for this year that would require additional, significant investments to expand our production capacity. The support from the State’s Excelsior Jobs Program has been the catalyst for our new investments and the jobs we have been creating.”
“This public-private partnership is another example of how state government is transforming the business climate in New York State,” Gov. Andrew Cuomo said. “By upgrading its Brentwood operations, Thuro Metal Products is renewing its status as an economic engine on Long Island and strengthening its competitiveness in the global economy. This upgrade will also create and retain jobs on Long Island, and I look forward to TMP’s continued growth in New York State.”
As an incentive to help the project move forward in New York State, Empire State Development is providing $200,000 in Excelsior Jobs Program performance-based tax credits, which are tied to job creation and investment commitments. The company plans to invest more than $3 million in new machinery and equipment, and renovations to its facilities to upgrade its manufacturing operations. TMP has already invested $750,000 into plant renovations and new machinery and equipment, along with hiring 6 new, full-time associates to facilitate these additional multiyear Automotive Hydraulic programs.
Empire State Development President, Chief Executive Officer and Commissioner Kenneth Adams said, “Under Governor Cuomo’s leadership, New York is making smart, strategic investments to create jobs and spur economic growth. Thuro Metal Products has a long legacy of manufacturing quality products in New York State, and we are proud to partner with the company to ensure they remain competitive, continue to operate effectively and create jobs for Long Islanders for years to come.”
The support from ESD was critical to TMP moving forward with the project. Without the renovations to comply with new industry standards, the company would have been forced to scale back production and downsize its workforce, the Governor’s Office said. As a result, more than 50 employees will be retained and, instead of layoffs, TMP will create 15 new jobs.
ArcelorMittal Chooses Mobile County, Alabama, for Steel Manufacturing Electric Arc Furnace
Mazda Toyota Manufacturing Plans $830 Million Assembly Plant Expansion at Huntsville, Alabama Campus
How are Uncertain Times Altering Company Location Strategies?
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
2019 Leading Metro Locations: Pacific and South-Atlantic Metros Dominate the List
A Heightened Focus on Reshoring
34th Annual Corporate Survey & the 16th Annual Consultants Survey