Lockport Company Will Bring Outsourced Production from Italy Back to New York; Allow Manufacturing Company to Keep Growing
Governor Andrew M. Cuomo today announced Moley Magnetics, Inc., a manufacturer and supplier of heavy duty commercial construction equipment will bring previously outsourced production work from Italy back to New York State, creating 41 additional jobs and retaining 19 jobs at the company’s Lockport facility.
“By leveraging investments in manufacturing and technology, we’re expanding economic opportunity and bringing jobs back to the region,” Governor 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.”
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.
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.
Howard Zemsky, President, CEO & Commissioner of Empire State Development said, “Moley Magnetics decision to bring jobs back from Italy is a testament to the quality of the Niagara region’s workforce and New York State’s welcoming environment for growing a business. We applaud Moley for its success and efforts to return jobs from overseas.”
Marc Smith, Administrative Director, Town of Lockport Industrial Development Agency said, “The Governor and his economic development team at Empire State Development have once again made a significant commitment to Niagara County to bring new jobs and investment to our region. We look forward to seeing the growth of Moley Magnetics and welcome their new employees to Lockport.”
State Senator Rob Ortt said, “Retaining jobs is equally important as creating new ones. Putting more hardworking New Yorkers on Moley Magnetics’ payroll will help to further grow, revitalize and strengthen our local economy, and shows a commitment to reinvestment in Lockport. The manufacturing company is an asset to the community, and I’m hopeful the move will spark more quality job growth throughout the town and region.”
Assemblywoman Jane Corwin said, “Moley Magnetics is a business that is on the move and this company’s success and growth is resulting in dozens of new jobs in Niagara County. It is important that we continue to build our Western New York economy by making it more affordable for businesses to set up and remain in our region and state. I look forward to working with my colleagues in the legislature and Governor Cuomo to provide the support needed to bring sustainable good paying jobs back to New York State."
About Moley Magnetics, Inc.
Moley Magnetics, Inc. is a manufacturer and supplier who offers a complete inventory of magnets, shears, grapples, track pads, as well as specialty services such as rebuilding, fabrication and maintenance. We provide our full-line of products to the scrap, demolition, railroad, recycling, and distribution industry.
Moley Magnetics originally started as a motor repair shop and this part of the business has expanded greatly over the years. Moley offers motor, pump and generator repairs and we also offer specialty services, such as, custom fabrication, machining, VFD programming and panel building. In addition, Moley Magnetics is proud to distribute the finest motors, devices, gearboxes and control components.
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