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New York Firm Reshores Jobs from Italy
LOCKPORT, N.Y. — Moley Magnetics Inc., a 20-year-old firm offering services and equipment to the scrap, demolition, distribution, railroad, and recycling industries, is reshoring jobs back to New York. The company estimated the move will grow its Lockport operation from 19 to 41 people. The work had previously been outsourced to Italy.
“By leveraging investments in manufacturing and technology, we’re expanding economic opportunity and bringing jobs back to the region,” said New York Governor Andrew M. Cuomo in a press release. “This investment will further strengthen Western New York’s economy and further cement the region’s reputation as a hub for smart economic development.”
John Moley, president, Moley Magnetics, Inc. said that bringing the production back to New York is an important priority for Moley Magnetics. “We look forward to expanding in Lockport, adding jobs, and continuing to provide the best quality customer service possible,” he said in the release.
Moley Magnetics, Inc. is a manufacturer and supplier that offers a complete inventory of magnets, shears, grapples, and track pads, as well as specialty services, such as rebuilding, fabrication, and maintenance.
The $2.1 million project includes the purchase and renovation of a building adjacent to the company’s current location in Lockport. The project also involves the purchase of new machinery and equipment, as well as furniture and fixtures, which will allow the company to diminish Italian operations and bring 41 new full-time employees to Niagara County by June 20, 2020.
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