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Governor and Council Approve BFA Loan To Enable Construction of
A New, Major Manufacturing Facility in Rochester
CONCORD, NH (December 15, 2011) – Gov. John Lynch and the Executive Council on Wednesday approved a $4 million Business Finance Authority loan to complete a major economic development agreement between the State, Safran USA, and the City of Rochester.
The agreement will enable the construction of a previously announced 275,000 square-foot facility, in which Safran USA and Albany Engineered Composites (AEC) will be co-located. The facility will employ approximately 400 workers. The State, through the Department of Resources and Economic Development, worked with Albany, Safran USA and the City of Rochester to ensure an agreement could be reached.
“We have been working closely with Safran USA and Albany to see the project through to completion. Today’s news is a major economic development win for Rochester and the entire state of New Hampshire, and will result in the creation of hundreds of jobs,” Gov. Lynch said.
As part of the effort to recruit the new facility, the state has also partnered with Great Bay Community College to create a new composite manufacturing curriculum to train workers to fill the new jobs.
“Safran USA and Albany could have located their new facilities anywhere in the country, but they chose New Hampshire because they recognize that we have a strong workforce and a winning economic strategy. We worked intensely with the companies over the past several years to make the construction of this new plant, and the hundreds of jobs that come with it, a reality,” Gov. Lynch said.
“I want to thank (DRED) Commissioner George Bald and his staff, particularly state business recruiter Cindy Harrington, as well as New Hampshire’s Business Finance Authority, under the leadership for Jack Donovan, for getting us to where we are today. I also want to thank Mayor T.J. Jean and Rochester city officials for their work and commitment to this project,” Gov. Lynch said.
“Finally, I want to thank Albany International’s President and CEO Joseph Morone and Safran USA leadership for their commitment to New Hampshire and for working cooperatively to move this critical project forward.”
“This agreement, and the manufacturing plant and new jobs that will result from it, is a reflection of not only the strength of the relationship between the State of New Hampshire, the City of Rochester, Albany International and Safran USA, but also of how tightly our futures are connected. The efforts of Governor John Lynch and his team in this process cannot be overstated, and the new plant and new jobs that will be created are the direct result of his efforts on behalf of State of New Hampshire,” said Albany President and CEO Joseph Morone.
The new facility will manufacture composite engine components.
“We are very pleased to launch the construction of a manufacturing plant in Rochester, where the Safran group and AEC will combine their resources in order to produce advanced composite parts for the LEAP aircraft engines developed by CFM International, a 50/50 joint company between Safran and GE,” said Peter Lengyel, President and CEO of Safran USA, Washington D.C. Operations.
Albany Engineered Composites is a subsidiary of Albany International, Corp., which employs about 225 workers at its existing Rochester facility. Last year, the company relocated its corporate headquarters from New York to Rochester.
“The City of Rochester is honored to be selected by Safran USA and Albany Engineered Composites to host their new world-class advanced manufacturing facility. This investment demonstrates Rochester’s commitment to attracting and securing sustainable industrial development and providing valuable jobs to our local economy,” said Rochester Mayor T.J. Jean. “Today’s announcement is a milestone for Rochester as we emerge from these difficult economic times.”
"This is a great day for Rochester and for the state of New Hampshire as a whole," said Commissioner George Bald. "We thank Safran USA for making the decision to locate their facility in New Hampshire and commend the City of Rochester for its hard work in bringing in a quality company that will create new jobs and add to the economic vitality of our state."
Construction of the new plant, near the existing Albany facility, will begin in the spring of 2012.
Shelburne Plastics Relocates to Londonderry, New Hampshire
LONDONDERRY, NH (December 2, 2011) –Shelburne Plastics, with head quarters in South Burlington, Vermont, has relocated its New Hampshire manufacturing operations, New Hampshire where it expanded its operation to 35,000 square feet at 27 Industrial Drive.
Michael Bergeron, Business Development Manager of the NH Division of Economic Development, assisted Shelburne in evaluating the benefits of staying and growing in New Hampshire and connecting them with Jack Donavan, Director of NH Business Finance Authority, which provided a $750,000 energy efficiency loan for new capital equipment.
“Michael Bergeron and Jack Donavan provided excellent service to me in this important decision to expand in New Hampshire” said Eugene Torvend, President and CEO. “With a loan from the NH Business Finance authority, we were able to move two production lines from our Maryland facility to New Hampshire, purchase new equipment and retain 25 jobs” added Torvend.
Shelburne supplies high quality HDPE and Polypropylene bottles and containers to the dairy, water, juice, chemical and food markets throughout the Eastern United States and Eastern Canada.
Shelburne plans an open house in the first quarter of 2012. For further information on the company, go to www.shelburneplastics.com.
Massachusetts Data Center Expands to Littleton, New Hampshire
LITTLETON, NH (November 17, 2011) –Secured Network Services (SNS) from Norwood, Massachusetts, plans to open a second data center in Littleton, New Hampshire. “SNS has signed a purchase and sales agreement to close on the old FedEx building in the Littleton Industrial Park and hire up to 10 employees over the next two years” said New Hampshire Division of Economic Development Business Development Manager Michael Bergeron, who assisted the company with its relocation.
“The state of New Hampshire and Littleton welcomed us with open arms” said Kevin M. Low, President of SNS. “Michael Bergeron introduced us to all the local key players to make this move happen quickly, including the building landlord, Littleton Industrial Development Corporation, Northern Community Investment Corporation, Grafton County Economic Development Council, FairPoint Communications, and Littleton Water and Power” Low said. “I even got a surprise call from Governor Lynch! —all through Bergeron’s coordinated efforts” added Low.
Founded by Kevin Low in 2002, SNS supports over 70 managed clients and 350 active accounts around the world. Their services include data center hosting and co-location, storage and back up, disaster recovery, networking and monitoring, telephone support, IP Telephony and managed services including a global helpdesk. For more information on the company and how they can assist businesses with IT needs, please visit www.sns.com or call Brad Mirza at 781-948-1911.
Austrian Company Relocates from Massachusetts to New Hampshire
HAMPTON, NH (Oct 26, 2011)–UNTHA shredding technology America Inc., an Austrian-based manufacturer of industrial shredding equipment, has relocated from Newburyport, MA to Hampton, NH. The company hosted an open
house on October 18, 2011 to demonstrate its cutting edge shredding machines.
“UNTHA is another great example of a family owned high-tech company that has found New Hampshire to be a lower cost state to operate a business,” said New Hampshire Division of Economic Development Business Development Manager Michael Bergeron, who assisted the company with its relocation.
“By relocating to New Hampshire, I expect to cut my operational costs by up to 10 percent annually,” said UNTHA President and CEO for U.S. Operations Berhard Mueggler. “We also have a great location—Hampton is close to Interstate 95 with easy access to the Boston metropolitan area and the rest of New England.”
UNTHA America currently employs six people and has plans to double its size in the next two years. Headquartered near Salzburg, Austria, UNTHA manufactures industrial machines to shred everything from wood and electronic scrap to production and municipal waste. For more information on UNTHA’s products, call their New Hampshire office at 603-601-2304.
Ragged Mountain Resort Approved for EB-5 Investment
Approval Paves the Way for Immigrant Investors and Job Creation in New Hampshire
CONCORD (October 11, 2011) - The U.S. Citizenship and Immigration Services (“USCIS”) has designated the New Hampshire EB-5 Regional Center, LLC as an approved regional center under the Immigrant Investor Pilot Program for the towns of Andover, Hill, Danbury, Wilmot, New London, Sutton and Newbury. This designation will enable the New Hampshire EB-5 Regional Center to solicit investments in approved Capital Investment Projects by non-U.S. citizens at a minimum of $500,000 each, which investment must be used to spur job creation.
Along with the regional center designation, USCIS designated the Pacific Group’s Ragged Mountain Resort Project in Danbury, New Hampshire, as an approved Capital Investment Project. Ragged Mountain Resort is expected to raise at least $35 million in new investment through the EB-5 program to renovate, expand, develop and operate the ski resort, creating at least 700 new jobs.
"We have one of the fastest growing economies in the United States and our workforce ranks among the best educated in the nation, which makes New Hampshire attractive to investors. This designation creates even more opportunities to invest in New Hampshire and its people. It will help expand and strengthen one of our great skiing destinations, Ragged Mountain Resort, and help create jobs," Gov. John Lynch said.
“We are confident that once prospective immigrant investors learn about Ragged Mountain Resort and its approved Capital Investment Project, they will be excited about the opportunity,” added David Strong, President of the New Hampshire EB-5 Regional Center and Manager of the Pacific Group. “Our experienced leadership and development team, including the Regional Center’s founder, the Pacific Group, make Ragged Mountain a project that prospective EB-5 investors can trust to provide the jobs and return they expect.”
The Pacific Group has been responsible for billions of dollars in commercial real estate development and construction of resort properties. Its management, affiliates and partners have constructed more than 1,000 projects throughout North America, including Empire Pass at Deer Valley, Utah; Copper Mountain Village, Colorado; Wolf Creek Ranch, Utah; Village at Squaw Creek, Lake Tahoe, CA; Village at Mammoth, CA; and Ritz Carlton North Shore, Vancouver, Canada.
George Bald, Commissioner of the New Hampshire Department of Resources and Economic Development, said, “We congratulate the New Hampshire EB-5 Regional Center and the Pacific Group on their efforts, which have led to obtaining this important designation. Once the investment is secured, Ragged Mountain should be on its way to becoming one of the premier four-season resorts in the East.” Michael Bergeron of the New Hampshire Division of Economic Development provided guidance and assistance throughout the application process.
The EB-5 program was created by Congress in 1990 as a way to attract foreign entrepreneurs to invest in U.S. businesses in exchange for immigrant visas. By investing either $500,000 or $1,000,000 in a new or troubled business and by creating a minimum of 10 jobs for U.S. workers, an alien investor can obtain green cards for himself and his immediate family. 10,000 immigrant visas are allocated through the EB-5 program annually, but these have been greatly underutilized in the past. The category has been growing in popularity. In 2008 just 1,443 visas were obtained, which surged to 4,218 visas obtained in 2009, but the number decreased in 2010 to 1,885. In both 2009 and 2010, the greatest numbers of EB-5 visas were issued to investors from China, South Korea, Great Britain/Northern Ireland and Taiwan.
There are two ways for an alien investor to obtain lawful permanent resident status under the EB-5 category: through the Basic Program or the Regional Center Pilot Program.
While the Basic Program requires investment in a commercial enterprise located anywhere within the U.S., the Regional Center Program requires investment in a regional-center-affiliated, new commercial enterprise or a troubled business within a designated regional center. (Regional Centers are USCIS-designated geographical locations defined as economic units, public or private, involved with the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment.) The Basic Program requires that the aliens’ investment directly create 10 new full-time jobs, whereas this requirement in Regional Center Program may be satisfied by indirectly created job opportunities to the local job market due to the investment. Most of the EB-5 visas in the past year were issued through Regional Center Programs, such as the New Hampshire EB-5 Regional Center and the Ragged Mountain Resort Project.
For more information on the New Hampshire EB-5 Regional Center, visit www.NewHampshireRegionalCenter.com or call 603-768-5700. For more on creative funding opportunities and other business assistance, contact the New Hampshire Division of Economic Development at 603-271-2591.
Plastic Reuse Company Comes to Colebrook, New Hampshire
COLEBROOK , NH (August 18, 2011) – Nearly 100 jobs are expected to be created within the next year thanks to a new company opening in Colebrook.
Plastimo Inc., a plastic reuse company, has purchased a 100,000 square foot industrial building located at 23 Gould Street. The new enterprise is a partnership between company President and entrepreneur Mohammed El Fendi and Rick Tillotson, investor and partner in the business. El Fendi also owns companies in Quebec, Vietnam, and Dubai.
“I decided to grow my business in Colebrook in large part because of the royal treatment from the state’s economic development team as well as the facility’s close proximity to my home in Montréal” said El Fendi. “But for the critical assistance from Beno Lamontagne and Michael Bergeron from the New Hampshire Division of Economic Development, I wouldn’t have made this move to New Hampshire.”
Another important factor in El Fendi’s decision is the partnership with Rick Tillotson who owns Dipco Inc. in Dixville Notch, a glove and windshield wiper manufacturer and Tillotson Health Care. El Fendi and Tillotson will be combining their assets and creativity to start this new company in Colebrook.
“This is a new beginning for this region of state” said Tillotson. “I can’t say enough about the important help we have received from the state economic development team and how that assistance allowed us to move ahead and start this exciting new venture.”
The company intends to apply for a community development block grant to assist in the purchase of new capital equipment and hopes to production by December 2011.
Tool Manufacturer Relocating to Hampton, New Hampshire
HAMPTON (August 10, 2011) – The seacoast can celebrate the arrival of a new jewel to the area as NBR Diamond Tool Corporation has relocated from New York to Hampton.
This manufacturer of diamond impregnated, metal bonded tools for the ceramic glass industry was formerly located in Lagrangeville, NY and is a small family run business that traces its roots to 1976. The company has purchased 2,300 square feet of industrial condominium space and will employ four workers.
“This is another example of a small company that is interested in moving to a state that has a great message of low taxes, great quality of life and responsive government,” said New Hampshire Division of Economic Development Business Development Manager Michael Bergeron who assisted Diamond Tool’s relocation. “New Hampshire is a perfect place for a family run business like Diamond to make great things happen.”
“I love New Hampshire,” said N.B.R. Diamond Tool Corporation President Phil Renzi. “I couldn’t wait to leave New York and the high taxes. New Hampshire also has better schools and a great quality of life.”
With an expected opening date of September, NBR Diamond Tool is looking to hire machinists for metal lathing, cutting and grinding. The company offers excellent wages and benefits. For more details, call Phil Renzi for more details at (845) 223-3163.
Resonetics Opens New Facility in Nashua, New Hampshire
Nashua, NH (June 16, 2011) Resonetics, LLC has proudly announced the company’s relocation to a new facility at 44 Simon Street in Nashua, NH. Because of the significant growth of its medical division, the new facility is 50% larger than the previous facility. Further expansion plans call for a doubling again by 2012; therefore, Resonetics has reserved surrounding space to accommodate this future growth.
According to Cliff Gabay, President of Resonetics, “Over the last few years, our company has executed the strategic plan to build a thriving medical device component business, culminating in moving to a new facility to accommodate the growth. We just simply ran out of room.”
Regarding the reason Resonetics remained in New Hampshire and the city of Nashua specifically, Gabay cited, “Despite many attractive options from other States, we chose to remain in New Hampshire because of the tremendous support from the New Hampshire Division of Economic Development and the local towns (Nashua and Merrimack) plus the fact that I could maintain close proximity to the existing Resonetics staff.”
“New Hampshire has a winning economic strategy in place which has made us one of the most business friendly states in the nation and a great place to grow a business,” Governor John Lynch said. “I am very pleased that Resonetics continues to grow and will do so right here in New Hampshire. I want to thank Cliff Gabay for expanding here in New Hampshire, and I want to thank our team in the Division of Economic Development for working with Resonetics in making this new facility possible.”
According to Mayor Donnalee Lozeau, “Resonetics proves that manufacturing can continue to thrive in New Hampshire. Cliff and the Resonetics team leverage the talent found in the Nashua area to design, develop and manufacture cutting-edge products that are shipped world-wide. I’m thrilled that they have chosen to launch their next phase of growth here in Nashua.”
Resonetics is the largest total solution provider of laser micromachining products and services in the world. It is also regarded as having the largest independent plastic (polymer) laser micromachining facility with more than 50 UV-based laser micromachining systems and a medical component fabrication facility.
Laser micromachining is a critical fabrication technology for the manufacturing of medical devices, diagnostics, and a variety of non-medical products as the machining features become increasingly small.
The US-based company has three separate business divisions: the Medical Division, the Laser Micromachining Division (for Contract Manufacturing Services) and the Laser Systems Division (for capital equipment).