The Times
  • Feldmeier to add 40 jobs

  • Feldmeier Equipment will expand its manufacturing operations in the city of Little Falls and add 40 full-time jobs as part of a $7,280,000 project.
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  • Feldmeier Equipment will expand its manufacturing operations in the city of Little Falls and add 40 full-time jobs as part of a $7,280,000 project.
    "This is a great project for the city of Little Falls and for Herkimer County. These 40 jobs have an average starting salary of $33,000, which is not an insignificant amount of money. These are good paying jobs and we are pleased to be able to assist Feldmeier expand its operations here," Herkimer County Industrial Development Agency Executive Director Mark Feane said after a Tuesday afternoon public hearing on the project.
    "I personally would like to thank the Feldmeier family for keeping their faith in the city of Little Falls and deciding to bring these 40 new jobs to our industrial park," said Mayor Robert Peters. "This project represents a significant investment in our community and I cannot thank Feldmeier enough for making a sizable commitment to our city."
    Peters said he met with company officials throughout the process. "A lot of hard work went into this and there are many people to thank, but that can wait for another time," he said. "Today, it's about thanking Feldmeier for deciding to expand here in Little Falls and pledging that the city of Little Falls will remain a partner as they continue to grow."
    Feane said Feldmeier Equipment, a manufacturer of stainless steel tanks, vessels, skidded systems, silos and tubular heat exchangers, will invest $3.25 million in the construction of a 50,000-square foot building at Riverside Industrial Park as well as $3.75 million in equipment. The project costs include $225,000 for land acquisition.
    Feane said Feldmeier will purchase land formally owned by Lasalle Labs Manufacturing.
    "The land is currently assessed as a vacant lot, so the addition of a $3 million building will definitely be a welcome addition to the industrial park and the city," he said.
    The public hearing was necessary as Feldmeier will receive financial assistance from the IDA in the form of exemption from sales and uses taxes related to acquiring the land and constructing and equipping the facility, as well as from mortgage recording taxes related to financing the cost of the facility and abatement of certain real property taxes.
    The payment in lieu of taxes agreement calls for Feldmeier to pay an amount equal to one-third of the regular taxes due during the first five years, an amount equal to two-thirds of the taxes during years 6 through 10 and 100 percent of the taxes after year 10.
    The sales tax exemption is expected to save the company $160,000 on the purchase of equipment and the mortgage tax exemption is expected to result in a savings of $32,000.
    Feane said the addition of 40 manufacturing jobs would increase the size of Feldmeier's workforce in the city of Little Falls to 200 full-time employees.
    "This kind of expansion will add to the tax base, which will be a benefit to all of Little Falls," said Little Falls City School District Business Manager Clete McLaughlin.
    Page 2 of 2 - General Manager Kyle Brown said the company wants the new facility to be "up and running by spring" 2014. "With the investments and commitments that are in place, the plan is to have the facility working by spring and fully operational by summer," he said.
    A groundbreaking ceremony for the project is planned for Friday, said Feane.