Empire State Development (ESD) on Monday said it will partner with ITT Inc. (NYSE: ITT) to support growth at the company’s locations in Onondaga, Seneca, and Erie counties.
ITT manufactures components and customized technology solutions for the transportation, industrial, and energy markets.
The company plans to invest in facility upgrades, machinery, and equipment along with other operational improvements. ITT will also add to its workforce in all three counties. The combined project includes an investment of up to $85 million over the next five years and the creation of up to 75 new jobs.
ESD is providing up to $3.25 million to ITT through the performance-based Excelsior Jobs Tax Credit program.
ITT’s Embedded Motor Drive in Syracuse is part of the company’s venture capital fund. A $1.5 million capital investment will create up to five new jobs at the facility.
ITT’s Seneca Falls Goulds Pumps location will create up to 45 new jobs with a planned capital investment of $72.5 million over the next five years. The facility, part of ITT’s industrial process segment, currently employs about 620 people.
“ESD is committed to growing the broader manufacturing ecosystem statewide thanks to innovative, growing companies like ITT,” Hope Knight, president, CEO, and commissioner of Empire State Development, said in a press release announcing the news. “This project represents another big win for the upstate economy, furthering New York’s position as global hub for the business and technologies that are powering the 21st century.”
In addition to the Syracuse and Seneca Falls locations, the firm’s Enidine location in Orchard Park will create up to 25 jobs with an $11 million capital investment over the next five years. Part of ITT’s connect and control technologies segment with about 230 employees, the facility creates harsh environment connectors and control components for the aerospace, industrial, and defense markets.
“ITT has a long, successful history of value creation, job creation, and community partnership in New York state,” Bartek Makowiecki, ITT’s senior vice president, chief strategy officer and president of industrial process, said. “Notably, we celebrated Goulds Pumps’ 175th anniversary in Seneca Falls last year, and we recently opened our EMD facility in Syracuse. We look forward to many more significant milestones across all our businesses operating in New York and greatly appreciate the state’s continued support.”
Headquartered in Stamford, Conn., ITT has sales in about 125 countries and employees in more than 35 countries.