Another 50 jobs are coming to an Ogdensburg manufacturer.
DeFelsko Corporation announced the expansion Friday afternoon, and said it will create 50 manufacturing jobs.
In order to expand, DeFelsko is buying a building next door to its current operation at 802 Procter Avenue.
The Ogdensburg Bridge and Port Authority (OBPA) is playing a key role in the deal, by first buying the building in question from another business, A.N. Deringer Corporation, for $300,000 and then reselling it to DeFelsko for the same price.
“This acquisition will allow DeFelsko to expand to meet the demands of its growing business” said David Beamish, President of DeFelsko.
DeFelsko manufactures gauges - test and measurement equipment - for industry. Deringer is a customs broker, meaning it handles goods being shipped to and from Canada.
“This is an excellent example of how a Public Benefit Corporation such as the Authority can and should assist the private sector to create jobs and investment in the regional economy,” said Wade A. Davis, executive director of the OBPA.
“DeFelsko’s expansion in Commerce Park will be good for DeFelsko, good for the manufacturing sector, good for Deringer, and good for the region with the projected $13 million in public benefits associated with this transaction,” said Davis in a prepared statement.
The OBPA is selling Deringer another building, at 835 Commerce Park Drive, for $450,000.
According to a statement from the OBPA, the DeFelsko deal will over the next decade provide $11.5 million in new manufacturing jobs, $1.3 million in new tax revenue for the city school district and $170,000 in bridge traffic.
Monday, March 10, 2014, Watertown, NY
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