A New York state valve manufacturer plans to expand to a newly acquired facility and add dozens of jobs.
Ross Valve, of Troy, New York, acquired the property in nearby Green Island from aerospace company LAI International for $2.5 million, the governor’s office announced last week.
The company plans to hire 50 new employees over the next five years, as well as retain the 10 workers currently employed by LAI at the site. The facility’s LAI workforce, according to the Albany Times Union, had declined from 55 just five years ago, when LAI acquired welded components maker — and original building owner — Zak Inc.
Officials said the deal would enable significantly increased sales of Ross’ traditional valves, large specialized valves, and sluice gates. Its valves and control gates are used in municipal water and wastewater systems, firefighting, hydropower, and multi-building cooling systems.
Company owners Bill and Andy Ross said in the announcement that they are committed to the site’s success and to "the value we can bring to the water and wastewater market, the high-alloy melting industry, industrial gas turbine market, along with general industry and the aerospace industry.”
The state’s economic development agency will provide Ross with up to $800,000 in tax credits provided it meets its hiring goals.
