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Happenings
Monday,
February 11, 2008
The
Business Review - by Adam Sichko
DynaBil expanding in Coxsackie with new building, 70 new employees
Aerospace manufacturer DynaBil Industries Inc.
will add 70 jobs and open a new 33,000 square foot plant by the end
of this year, company officials said.
DynaBil, which supplies parts to the military and private aerospace
industries, including Boeing Co.'s 787
"Dreamliner" project, has already hired 50 employees as a result
of the planned expansion. The Coxsackie company will have 300 staffers
once all hires are made, as well as extra space beyond its
65,000-square-foot headquarters, officials said.
The company and the state together have invested
about $6 million in the new plant and related jobs. That includes a
$750,000 grant from the state Office of Small Cities and $400,000 from
Empire State Development Corp.
"It has been a top priority of our organization to complete an
expansion deal with DynaBil to ensure its long-term presence in
Greene
County
," said Paul Slutzky, chairman of the Greene County Industrial
Development Agency. "These manufacturing jobs are valuable to our
local community and the image of
Greene
County
as a viable location for high tech and manufacturing companies."
DynaBil has experienced "explosive growth" through its work on
Boeing's "Dreamliner" and filling military orders, such as parts
for Sikorsky Aircraft Corp.'s
Black Hawk helicopters, said President Paul Burton. The new facility will
be house manufacturing processes for those and other large orders, he
said.
DynaBil is leasing three acres in the Greene Business and
Technology
Park
in
Greene
County
for the facility. The roadways and building are being constructed by the Galesi Group of
Schenectady
and should be finished by the end of September.
The company expected about $34 million in sales in
2007, which would be a 30 percent jump from the previous year. Venture
capital firms DeltaPoint Capital LLC
and HSBC Capital (USA)
Inc. paid $21 million for a majority stake in the company in 2006.
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