Xaloy Plans $7.4M R&D Center in Austintown
AUSTINTOWN, Ohio – Xaloy LLC said Tuesday it plans to build a $7.4 million research and development center at its Victoria Road plant here that would expand production capacity and increase efficiency for polymer processing.
JobsOhio, the state’s private economic development corporation, has provided a $2.2 million R&D Center Grant to support the project’s development.
It is the first R&D Center Grant awarded in the Mahoning Valley, the organization said in a news release issued Tuesday morning.
Total fixed asset investment for the Xaloy Innovation Center is approximately $7.47 million, according to JobsOhio.
“Xaloy has been a key enabler of technological and engineering advances in the polymer processing industry for over nine decades,” Cheryl Sayer, chief technology officer and vice president of engineering, said in a statement. “The industry is undergoing rapid change driven by social awareness, environmental responsibility and government legislation. The Xaloy Innovation Center will allow us to lead the way to a more sustainable future.”
Xaloy will build the R&D center with the goal of creating new technologies and advancing sustainability, according to Team NEO, JobsOhio’s development partner in northeastern Ohio.
“We believe the Innovation Center will set a new standard in the industry while strengthening Ohio’s position as a pioneer for innovative solutions and advanced manufacturing,” Sayer said.
The center will have advanced facilities and equipment for research, product and process development, according to a press release from Team NEO.
The R&D center will enable Xaloy to continue providing solutions to customers to reduce scrap, increase output, promote the reuse and recycling of polymers and use of newly engineered resins and bio polymers.
The new center will also serve as a hub for developing advanced manufacturing capabilities that reduce energy use, material consumption and carbon footprint. It will also drive collaboration with industry leaders, experts and polymer research universities to tackle some of the plastics industry’s biggest challenges today.
“Xaloy’s decision to grow their operations in Austintown reinforces how Ohio’s manufacturing heritage supports future economic development,” Gov. Mike DeWine said. “Ohio is the heart of opportunity and innovation, and we’re happy that Xaloy is expanding its presence here.”
Xaloy leadership worked with state, regional and local partners, including JobsOhio, Team NEO and the Youngstown/Warren Regional Chamber to secure this highly competitive project.
Guy Coviello, president and CEO of the Youngstown/Warren Regional Chamber, said in a statement that Xaloy’s decision to build its R&D center in Austintown is a significant development for the region.
“This investment is a major win for the Mahoning Valley,” he said. “A project of this scope allows cutting-edge technology to be developed in our backyard and ensures that Xaloy’s presence in Austintown is firmly planted and competitive for many years to come.”
Coviello says collaboration between JobsOhio and Team NEO helped move the project forward.
“Austintown trustees are also to be commended for fostering a business-friendly environment,” he said.
Lt. Gov. Jon Husted noted that the project underscores how major companies consider Ohio an important asset to their growth.
“Xaloy’s new R&D center demonstrates confidence companies worldwide have in Ohio’s workforce to keep their business on the cutting edge,” he said.
The new R&D center will also be instrumental in advancing technology across the industry, said J.P. Nauseef, JobsOhio president and CEO. “This state-of-the-art facility will be another tremendous asset Xaloy brings to the Mahoning Valley, providing new jobs and opportunities for Ohioans who will innovate the development of products that improve manufacturing efficiencies for companies across sector lines.”
Bill Koehler, CEO of Team NEO, added: “Xaloy’s decision to expand in the Northeast Ohio region is a testament to the resources we have – including a talent base in key positions like engineers, machinists and IT specialists and more than 25 higher education institutions – to support smart manufacturing, new product development and advance sustainability efforts.”
Pictured at top: Xaloy’s plant on Victoria Road in Austintown.
Copyright 2024 The Business Journal, Youngstown, Ohio.
