posted on June 02, 2014 15:36
U.S. Gypsum Company is expanding in Oakfield and is expected to secure more than 100 jobs, according to Governor Andrew Cuomo’s Office Monday afternoon.
The governor says the company, which has been operating in Oakfield since 1902, looked at paper mill options across the country and now the company says it’s staying in Oakfield and will invest in machinery upgrades and utility improvements.
It will result in the retention of 98 jobs and the creation of 12 new ones.
“It’s always wonderful news when we can talk about job creation and retention and in this case it’s both a heartening and sobering reminder that it’s not just necessary to bring in new businesses to our area, it’s just as important to work with our existing businesses and U.S. Gypsum is exactly that,” Assemblyman Steve Hawley told WBTA from Albany. “They’ve committed to creating more jobs here and that, to me, means that they’re here for the long run.”
In terms of financial incentives, the governor’s office says the company has qualified for about $1.3 million in various grants and is additionally seeking a grant from National Grid to assist with electrical infrastructure upgrades.
The total capital project is estimated at $19 million.