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What you need to know for 01/22/2017

M&G DuraVent to create 103 jobs

M&G DuraVent to create 103 jobs

M&G DuraVent Inc. will bring more than 100 new jobs to Albany County by relocating to a new facility

M&G DuraVent Inc. will bring more than 100 new jobs to Albany County by relocating to a new facility that is more than twice the size of its former location in downtown Albany, state officials announced Monday.

The venting industry business has leased and renovated a 140,000-square-foot facility on Jupiter Lane. Manufacturing previously done in California and Mississippi will be moved to Albany County, creating a total of 103 new jobs, in addition to the 58 workers who will be relocated from the old facility on Pearl Street.

Empire State Development assisted DuraVent with $1 million in Excelsior Jobs Program tax credits and New York State Homes and Community Renewal, through Albany County, will provide $416,000 in NYS Community Development Block Grant funds to be used toward the purchase of machinery and equipment necessary for the expansion. In addition, the state Department of Labor awarded DuraVent $50,000 through its worker training program.

“Despite outside competition, DuraVent chose to stay and grow its operations in the Capital Region, demonstrating that the region’s unique assets make it an attractive place to do business. I’m pleased that we were able to assist DuraVent expand locally and create more than 100 new jobs,” said Kenneth Adams, the president and chief executive officer of Empire State Development.

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