10/28/2009
Orion Instruments To Expand In East Baton Rouge Parish
Company will invest $5 million and create 35
new jobs averaging $40,000, plus benefits
Today, Gov. Bobby Jindal joined Orion Instruments General
Manager Don Sanders, East Baton Rouge City/Parish Mayor Kip Holden,
Baton Rouge Area Chamber President Adam Knapp and others to
announce that Orion Instruments will expand its operations in Baton
Rouge, La. Orion will invest $5 million in the expansion and will
create 35 new jobs averaging $40,000, plus benefits, while
retaining 70 existing positions. The project will also lead to the
creation of 61 permanent, new, indirect jobs.
"This is a great win for the Capital Region and our entire state
-- and it's another example that our commitment to business
retention and expansion is creating good jobs while helping to
retain our existing jobs," said Gov. Jindal. "We'll continue to
focus on growing the companies that are already here while also
aggressively pursuing new business investment to increase the
economic momentum of our state."
Orion Instruments, a subsidiary of Magnetrol International, will
relocate from its current 18,000-square-foot facility on Complex
Drive to a site on Oak Villa Blvd. in Baton Rouge, where it will
develop a facility with up to 60,000 square feet of space.
Louisiana Economic Development estimates that the expansion project
will generate more than $4.1 million in new state tax revenues and
nearly $2.8 million in new local tax revenues over a 15-year
period.
Jeff Swallow, Magnetrol International executive vice president
and chief operating officer, said the company is "very excited
about this new facility and the additional opportunities for Orion
Instruments in Louisiana. No one predicted how successful this
little company could become in eight short years. However, we'll
expand and continue the growth cycle for as long as we can up to
and including either adding on or moving to even a larger facility
in the next eight years."
"Orion's expansion and its commitment to Baton Rouge is another
reason that our economy remains strong at a time when many American
cities are having difficulty weathering the recession," said
Holden.
Orion Instruments is expected to use the Quality Jobs Program,
Economic Development Loan Opportunity Program (specifically a
performance-based, 5-year, $350,000 loan with a forgivable interest
feature) and Industrial Tax Exemption Program. In addition, the
company has been offered a local Enterprise Zone Program incentive
by East Baton Rouge Parish, which includes a 1.9 percent rebate of
sales and use taxes within the parish.
"Since taking office early last year, we have made retaining and
growing existing Louisiana companies our top economic development
priority," said LED Secretary Stephen Moret. "Each time we help
secure a business expansion, we create two wins for our state --
not only do we benefit from new job creation but we also benefit
from more definitively securing our existing Louisiana jobs."
"BRAC targets its strategy to support the growth of existing
businesses, and we are very pleased by Orion Instruments' decision
to expand," stated Knapp. "They employ an extremely diverse
employee base, the majority of which are knowledge-based jobs, and
also export to global markets that generates tremendous wealth for
the Baton Rouge area. Congratulations to the employees and
management for this important moment in the company's history."
"Orion Instruments thanks the Baton Rouge Area Chamber, Mayor
Holden, Secretary Moret and Gov. Jindal for their pursuit and
commitment to support our expansion and retain our business in EBR
Parish and the state of Louisiana," said Sanders. "Their
perseverance to promote the qualities of our state is unparalleled.
They have succeeded in securing out-of-state investment from
Magnetrol resulting in a bright future for Louisiana residents and
a continuation of Orion's phenomenal growth. The combined spirit
and perseverance of EBR Parish, the state of Louisiana leadership
and the Orion team is the key to excellence. Orion and Magnetrol
are committed to the growth of the Louisiana economy."
Orion Instruments designs, manufactures and sells sensing and
processing instrumentation, such as industrial process type level
and bulk measuring instruments, relays and industrial controls,
electrical equipment and supplies, metal cutting machine tools and
current-carrying wiring devices.
