Fluitec International, the Belgium-based clean technology company, has picked New Jersey to consolidate U.S. operations and open its new global corporate headquarters, state and company officials announced this week.
The company plans to bring more than 80 jobs to the state over the next five years and invest some $5.6 million to establish its New Jersey location, according to the announcement by the Economic Development Authority. As part of the deal, Fluitec will receive a $927,600 grant over 10 years from the Business Employment Incentive Program, which is tied to the company’s plan to create 30 new high-paying jobs within the next two years.
About five Fluitec employees have been in a temporary office in Jersey City since May, Greg Livingstone, chief marketing officer, said Friday. The company is very close to signing a lease for a permanent space, but he declined to say where until the deal is final.
Fluitec develops products to increase the efficiency of turbine equipment, such as devices that monitor oils and lubricants in machinery, according to its website. The privately held, 16-year-old company originated with technology developed by the U.S. Air Force to help helicopters stay afloat during the first Gulf War.
Agencies made their case
Fluitec’s decision results from efforts by the New Jersey Business Action Center, which convinced the company to pick New Jersey over competing sites in Florida and Belgium, according to the EDA’s announcement. Livingstone said the company was strongly considering other locations, but was persuaded by the state agencies. He also pointed to the region’s talent selection and proximity to major airports.
“There’s a phenomenal talent pool within a hundred miles of Jersey City, or just in New Jersey in general,” Livingstone said. “That was a big thing that was attractive to us. The other thing was that it’s so easy to get in and out of Europe to support our operations there.”
He said the $5.6 million will be invested in developing a new research facility, and hiring high-level chemists and mathematicians for product development. The company has offices and facilities in Antwerp, Belgium; Atlanta; and Tampa, Fla.
EDA spokeswoman Laura Jones said the company’s decision to pick New Jersey was finalized last month after it was offered the BEIP grant. Lt. Gov. Kim Guadagno, who met recently with Fluitec officials, said the move was another validation for the Chris Christie administration’s efforts to lure businesses to New Jersey.
Fluitec CEO Frank Magnotti said in a statement that he hopes the company will soon be counted among the state’s Fortune 500 companies. The company has “strong growth prospects” because of its management and the “huge market opportunity that exists in energy and industrial efficiency,” he said.