NORTH TONAWANDA, N.Y. (WBEN).....New contracts are fueling an $8 million expansion by Taylor Devices Inc.
Taylor Devices (NASDAQ: TAYD) are working with North Tonawanda officials and the Niagara County Industrial Development Agency on expansion plans that will see the company acquire vacant buildings at 261-267 Main Street and 34 Thompson Street for the company's latest growth-fueled project.
"They have a long history and we're glad to see them continue to grow here," said North Tonawanda Mayor Austin Tylec.
New contracts for aerospace industry landing gear components are driving the expansion, according to documents filed with the Niagara County IDA.
Taylor Devices will be paying $975,000 for the buildings, according to NCIDA documents.
The project will see Taylor Devices buy six new CNC machines needed to manufacture the gear system.
Taylor Devices, which employs 130 people at its North Tonawanda headquarters, will be adding at least five new jobs - each paying $75,000 annually.
Taylor Devices is a homegrown North Tonawanda firm that dating back to 1955.
The company is one of the few, North Tonawanda-grown publicly traded firms.
"The fact that they are maintaining and expanding their roots here says it all," Tylec said.
Taylor Devices to invest $8 million in new expansion
Taylor Devices to invest $8 million in new expansion
