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Aerospace firm Chromalloy to move to Palm Beach County

By Palm Beach

WEST PALM BEACH — An Orangeburg, N.Y., aerospace firm is opening a technology center in Palm Beach Gardens, where it will develop  parts for gas turbine engines. The firm, Chromalloy, also plans to move its corporate headquarters to Palm Beach Gardens as well.

Both moves will bring 70 jobs to Palm Beach County. Chromalloy will receive $1.14 million in city, county and state grants.

Chromalloy on Monday announced plans to lease a 30,000-square-foot space in a Palm Beach Gardens industrial park, where it will house include labs, offices and a10,000-square-foot warehouse.

According to the Business Development Board of Palm Beach County, the 70 jobs Chromalloy is bringing will have average salaries of at least 200 percent of the county average wage. The company is projected to add $20.1 million to the local economy over the next three years.

Out of the 70 total jobs that Chromalloy will create, 52 will be new from outside of Florida, while the remaining 18 will come from other locations within Florida. Chromalloy operates a technology center in Stuart, and has operations in Tampa, including a castings foundry and a ceramics operation. It is part of a joint venture that owns a facility in Oldsmar. Its owner, Sequa Corp., is based in Tampa.

“During the past two years, Chromalloy has refined our research and development roadmap for engine services and that strategy includes a robust pipeline,” Chromalloy President Armand F. Lauzon Jr. said.  “The new technology center of excellence will become the site for this new development and in addition will serve as corporate headquarters – assuring the greatest dynamic between senior leadership and the company’s world-class technical staff that represents our future.”

Said BDB President Kelly Smallridge: “Chromalloy will be a valuable addition to the county’s aerospace, aviation, and engineering cluster and the strong support of the County Commissioners and the City of Palm Beach Gardens made this possible.”

Chromalloy will receive $364,000 in state tax refunds through Florida’s Qualified Targeted Industry Tax Refund program, matched with $72,800 from Palm Beach Gardens and Palm Beach County.

It will also receive $500,000 from Florida’s Quick Action Closing Fund, and $200,000 provided equally by the city and county, pending final approval by the county commission in early April.

Chromalloy, which has locations in 17 countries, is the world’s largest independent supplier of repair and replacement parts for turbine engines. Its customers include commercial airlines and the military. It also makes parts for industrial turbine engines.

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