This corporation was organized in 1956 for the
purpose of promoting and increasing the general welfare of the
inhabitants
of the Town of St. Johnsbury, Vermont, and of neighboring
towns,
by endeavoring to induce industrial, recreational, agricultural and
other
enterprises to locate or remain in said towns; by providing financial
and
other aid or assistance to such enterprises; by furthering and
promoting
the general business interests of said towns, improving, extending and
placing upon a safe and more permanent foundation the business and
manufacturing
interests of said towns, and by holding such real and personal property
as may be necessary or convenient for such purposes.
Current Officers
Peter F. Crosby, President
Peter J. Murphy, 1st Vice-President
Larry Sharer, 2nd Vice-President
A. Richard Boera, Secretary-Treasurer
One of our success stories...the acquisition
of
a building for lease to
ENGINEERED THERMAL SYSTEMS
on Route 5, between St. Johnsbury and
Lyndonville,
Vermont
LYDALL ACQUIRES ENGINEERED THERMAL SYSTEMS,
INC.
MANCHESTER, CT - April 21, 1998....Leonard R.
Jaskol,
Chairman and CEO of Lydall, Inc., today announced that the Company
acquired
for cash Engineered Thermal Systems, Inc. (ETSI), a producer of
automotive
thermal and acoustical components. Located in St. Johnsbury, Vermont,
ETSI
currently has 96 employees and had sales approaching $12 million in
1997.
This acquisition, which will operate as the St. Johnsbury Operation of
Lydall
Westex, complements the Company's
extensive
automotive thermal barrier business. (Aminta Conant is the
Operations
Manager of the local Lydall Westex facility.)
Y2K UPDATEThe
Development Fund recently undertook a $4.2M expansion project for
Lydall, building an 86,000 sq.ft. facility on a 17-acre site just
across
the river from the existing plant. At groundbreaking ceremonies for the
new building held on November 8, 1999, Governor Howard Dean assists
Fund
President Jerry Rowe in the shoveling duties while Williston general
contractor
Don Wells supervises the official first digs......¥
The Grand Opening for the new plant of
the
(now-renamed) Lydall Thermal/Acoustical
Group took
place on August 8, 2000 with Governor Dean and Development Fund
President
Rowe as honored guests. Lydall President Chris Skomorowski
journeyed
up from the home office in Manchester, Connecticut, to tour the
multi-story
manufacturing area and contemporary office space and to speak at the
event.
According to Operations Manager Aminta Conant, the expansion has
already
created about 25 more jobs...bringing the employment total to over
150...and
the company expects to hire about 20 more people over the next two
years......¥
The former
ETSi building , once EHV-Weidmann's Fab East facility, is now
being
leased by North East Precision, Inc. Company
president Bruce
Benoit has plans for growth over the
next
five years. His company currently employs about 50 people. The new
quarters
provide twice as much space as the Fairbanks site......¥
In September (2000), New England
Composites exercised its early termination lease option on the
Development
Fund's facility in the St.Johnsbury-Lyndon Industrial Park. NSA
Industries,Inc.,
already established in the Industrial Park with a work force of 300,
took
advantage of the opportunity to "spread out" and signed a lease with
the
Development Fund effective the day that the Canadian-based firm vacated
the premises. NSA's founder and president, Neal Austin, was the
Northeast
Kingdom Chamber of Commerce Business Person of the Year 2000! His
company
is a manufacturer of sheet metal. Upon completion of construction of
their
own new annex, coincident with the end of the lease term, NSA used this
building for storage purposes for two years. Currently, Lydall
leases the facility for warehousing on a month-to-month basis.The
facility is therefore available for sale or lease on very
favorable
terms.
>>>
Building Specs, Photos, and Additional Info Link
The
St. Johnsbury Development Fund was the recipient of a $3,500
grant
awarded by the Federal Home Loan Bank of Boston Community
Development
program.The Fund was nominated for its involvement with the Lydall
Thermal/Acoustical
Group (formerly Lydall Westex) building expansion project in St.
Johnsbury.
The FHLBB award was accepted by President Jerry Rowe at the New England
Community Development Conference held in Boston in November......¥
For Information about this area, we
invite
you to visit these links:
Northeast Kingdom Chamber of Commerce
St. Johnsbury - "Vermont Living" magazine profile
For further information about industrial sites
and financing, contact the
St. Johnsbury Economic Development Office
(Joel Schwartz, Director)
at
jschwartz@town.st-johnsbury.vt.us
For further information about the Fund, send
e-mail
to boerad@charter.net
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is pleased to welcome visitor #
Original web page 11/15/98
Last updated 10/23/05....ARB
