Wednesday, April 24, 2024 | St. Lawrence County, NY
OGDENSBURG -- DeFelsko Corporation, a developer and manufacturer of gauges for industry, is growing and has bought another building and plans to build yet another as it expands production and adds an …
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OGDENSBURG -- DeFelsko Corporation, a developer and manufacturer of gauges for industry, is growing and has bought another building and plans to build yet another as it expands production and adds an estimated 50 jobs.
The Ogdensburg Bridge and Port Authority put together a multi-part deal to finalize DeFalsko’s plans, according to OBPA Executive Director Wade Davis.
As DeFelsko has expanded its product line and increased production, it has been looking for more space than it has in its current building at 800 Proctor Ave. in the OBPA Commerce Park.
“This acquisition will allow DeFelsko to expand to meet the demands of its growing business,” said David Beamish, president of DeFelsko.
“In the past few years DeFelsko has expanded its product range and introduced successful new technologies which have increased the production requirements of the existing facility,” said Beamish.
The OBPA engineered a deal where customs broker A.N. Deringer agreed to move from its building at 802 Proctor Ave., right next to DeFelsko, to another building in the park.
The OBPA bought the former Deringer building and is selling that to DeFelsko along with some extra land there so they can put up yet another building.
To accommodate the DeFelsko expansion, the OBPA is selling another Commerce Park building, valued at $450,000, to Deringer for $300,000 and will be making about $50,000 in improvements in the form of a loading dock and work on the building’s roof.
That leaves the OBPA out about $200,000, but that’s a small price to pay for an estimated $13 in economic activity that the DeFelsko expansion and the 50 jobs will generate over 10 years, according to Davis.
This includes $11.5 million in new manufacturing jobs, $1.3 million in new tax revenue for the city and county school system, retention of $170,000 in bridge traffic, and avoidance of $44,000 in utility costs.
“It is a complex transaction, but it will generate significant jobs and economic activity,” Davis said.
DeFelsko, founded in 1966, is a leading manufacturer of measurement instruments for many industries including manufacturing, marine, aerospace and petrochemical.
