By GREGORY ZELLER //
With new equipment and a pending real-estate deal, a Brentwood business is making good on its commitments to Empire State Development, Albany’s main economic-development engine.
Nearly four years after Gov. Andrew Cuomo announced that manufacturer Thuro Metal Products Inc. would receive $200,000 in Excelsior Jobs Program performance-based tax credits, it’s payback time. The company said this week it has acquired two state-of-the-art Computer Numerical Controlled metal-fabrication machines that will help it meet its job-creation commitments – and is close to purchasing “Plant No. 2,” a 24,700-square-foot facility that already houses Thuro Metal’s business-development operations and other departments.
The 52-year-old company’s intentions were never actually challenged: A 2016 review of the Excelsior Jobs Program by New York State Comptroller Thomas DiNapoli, while scathing, found that ESD did have adequate records showing Thuro Metal Products was on pace to create the 15 net jobs it promised when it received its Excelsior credits in 2013.
But this week’s announcements, part of what the company termed “a longer-term growth strategy,” confirm Thuro Metal Products’ commitment to its state benefactors and to the Long Island regional economy, according to Sam Handle, Thuro Metal’s vice president of business development.
“We feel that our commitment to invest in new equipment and our employees will enable us to be around for at least another 50 years, as we continue to serve our loyal customers while at the same time attracting new ones to join us,” Handle said Monday.
Thuro Metal Products supplies Original Equipment Manufacturers in the aerospace, defense, automotive and industrial-equipment industries, among others. Among its recent investments was a $4 million upgrade featuring the purchase of two Star SB-20 Type G CNC machines – a “natural next step” toward creating new jobs, according to company President David Thuro.
“Coupling the latest technology and best production equipment, together with a highly skilled and dedicated staff, is part of our heritage,” Thuro said in a statement.
Even more significant is Thuro Metal Product’s “aggressive plan to continue its growth,” according to a company statement, with the circa-1965 manufacturer close to purchasing Plant No 2.
The company has leased roughly half of the 24,700-square-foot building, located a short distance along Grand Boulevard from its longtime headquarters, for the better part of 14 years. Plant No. 2 already houses Thuro Metal Products’ material sawing, bar-preparation, automatic screw-machine and other critical operations, in addition to that business-development office and inventory storage.
Terms of the purchase have not been disclosed, but the Town of Islip Industrial Development Agency stands ready with an authorizing resolution that will bestow property, sales and mortgage tax abatements on Thuro Metal Products upon completion of the sale, an IDA spokesman told Innovate LI. Thuro Metal appeared before the Islip IDA in January.
A Thuro Metal Products spokesman described the Plant No. 2 purchase as “imminent.”
With only half of the second facility’s 24,700 square feet currently developed, the post-acquisition plan is to “modernize” the remaining space “to house state-of-the-art equipment and new staff,” according to a company statement.
It’s all part of that long-term growth plan, according to David Thuro, who is attending the Precision Machine Products Association’s annual National Technical Conference this week in Ohio. The conference’s 2017 focus: talent acquisition.
“True talent development takes dedication and persistence,” the company president said. “I am blessed with a team that enables me to spend at least two days per month working on developing tomorrow’s workforce.
“For me, this endeavor is Job No. 1.”