After more than four decades in Mount Vernon, a leading manufacturer of metal-testing systems for industries plans to relocate to larger space in Elmsford.
The Westchester County Industrial Development Agency recently approved a leaseback agreement with Magnetic Analysis Corp. that will provide an estimated $2.55 million in real property and sales tax savings to enable the company”™s proposed move to 103 Fairview Park Drive in the Fairview Corporate Park.
The company plans to move 75 employees from its Mount Vernon plant to Elmsford, where it will occupy approximately 47,000 square feet of space for its headquarters, research, engineering and manufacturing operations. It expects to hire an additional 10 employees at its new location in the town of Greenburgh.
Founded in 1928 in Long Island City, Magnetic Analysis developed the first American-made system using electromagnetism to detect flaws in steel products without destroying part of the tested product in the process. The company has grown to become a major source of nondestructive metals testing services and inspection systems worldwide.
Since 1966 Magnetic Analysis has operated from 535 S. 4th Ave. in Mount Vernon, where it began with 18 employees and now employs 75 workers. The company”™s manufactured products for industrial testing also have grown in size, forcing it to find a larger facility to stay competitive, company officials said in their IDA application.
The manufacturer has considered sites in New Jersey, Connecticut and Rockland County, where it could retain some of its current Westchester workforce, and also in Ohio, where it has operated a plant since 1975. The IDA financial assistance, including a payment in lieu of taxes agreement to be negotiated, will make the Westchester site competitive with the other locations, company and IDA officials said. Consolidated Edison Inc. might offer business incentive rates for the facility”™s energy supply.
Total construction costs for the relocation project will not exceed $5 million, including an estimated $950,000 for renovations and initial furnishings, fixtures and equipment.
No anticipated date for the relocation was included in the IDA application.
Officials at Magnetic Analysis did not return calls for comment.
Started by a father-son partnership of William Gould and William Gould Jr., Magnetic Analysis Corp. in 1934 introduced the first nondestructive tester to detect cracks in steel bars. Its first customer that year for its leased equipment was Union Drawn Steel. Demand in the U.S steel industry for its products and testing service grew with demand for ordnance testing in World War II.
To meet global demand from metal manufacturers for its technologically advanced products, the company since the early 1960s has opened subsidiaries in Great Britain, Italy, Australia and Scandinavia. Asia, South America and India have become key markets for the Westchester manufacturer in recent years.
