Governor Andrew M. Cuomo today announced Thuro Metal Products, Inc. (TMP), a leading manufacturer of precision metal products for the aerospace, automotive, and industrial equipment industries, is upgrading and modernizing its operations on Long Island in Brentwood, Suffolk County. TMP is acquiring new machinery and equipment, as well as renovating its existing facilities, to ensure the company meets new industry standards and stays competitive with other U.S. and European manufacturers. The project will enable TMP to avoid downsizing and instead expand its operations, which will retain more than 50 jobs and create 15 new jobs on Long Island.
This public-private partnership is another example of how state government is transforming the business climate in New York State, Governor 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 TMPs continued growth in New York State.
A home-grown company on Long Island, TMP has manufactured precision machined component metal parts for the aerospace, automotive, and industrial equipment industries, as well as the military, since the early 1970s. During the 1970s and 1980s, TMP became a leading supplier of precision hydraulic fittings and component parts used in military aircraft. In 2005, TMP divested itself of direct ownership of NYTEX Automatic Products a major subsidiary of TMP since 1990 in order to focus on enhancing the two TMP facilities in New York, with the goal of exporting Automotive Hydraulic parts to Europe.
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 Thuros 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 States Excelsior Jobs Program has been the catalyst for our new investments and the jobs we have been creating.
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, CEO & Commissioner Kenneth Adams said, Under Governor Cuomos 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. As a result, more than 50 employees will be retained and, instead of layoffs, TMP will create 15 new jobs.
Senator Lee M. Zeldin said, The expansion of TMP is a step in the right direction for Long Island manufacturing. I thank ESD for their work and welcome the opportunity to not only preserve existing jobs, but to create new ones for Long Islanders."
Creating and retaining jobs in Suffolk County is paramount to ensuring the Countys economic stability, said Suffolk County Executive Steve Bellone. I thank Governor Cuomo and the Empire State Development Corp for working with Thuro Metal Products to assist them in expanding their operations and retaining employment opportunities here in Suffolk.
John Cochrane, Town of Islip Councilman said, Thuro supports the aerospace industry, a sector that the Town of Islip has recognized as extremely important to our local economy. In addition, firms like Thuro provide precision machining to other Islip-based aerospace companies and because of their continued success; they help other companies in this vital industry thrive. The Excelsior Jobs Program is critical for companies such as Thuro and we're extremely supportive of the financial assistance that Empire State Development is providing.