DENHAM SPRINGS — A high-tech metal-coating operation is coming to Livingston Parish..
CAP Technologies in Baton Rouge announced its move into a mostly new and renovated 50,000-square-foot location in Livingston Parish.
The company intends to be fully operational in about six months.
“We’re very excited about this,” said Edward Daigle, owner of CAP Technologies, from the production floor of the new plant space Wednesday after visiting with Gov. Bobby Jindal and other local and business officials.
“This is what we’ve been working toward,” he said.
Once operational, the plant will employ 40 to 45 workers, each earning about $52,000 a year, Daigle said.
CAP began about 10 years ago at the Louisiana Business and Technology Center, a business incubator at LSU.
It then moved to a location on Industriplex Boulevard in Baton Rouge.
“Born on a university campus, CAP Technologies is exactly the type of company we want to help cultivate in Louisiana in order to diversify our economy and create more jobs for our people so they don’t have to leave home to pursue their dreams,” Jindal said in a statement.
CAP uses an electronic process to clean and coat metal — primarily wire — so it can be used for other purposes.
The process replaces the use of harsh acids that leads to hazardous storage and disposal issues at conventional metal-coating businesses, the company said.
CAP’s technology is patented in 21 nations, with additional patents pending.
The company developed what’s known as Cathodic Atmospheric Plasma technology.
Steel rods will come into the plant, then go out as wire, Daigle said.
The company is retrofitting and expanding a former wood beam-laminating plant in Denham Springs next door to a Terminix facility.
The improvements are resulting in a $8.1 million capital investment.
“CAP Technologies is a great regional success story,” said Adam Knapp, president and CEO of the Baton Rouge Area Chamber.
“This company was developed in a research university incubator and is now creating high-paying jobs for the metro region,” he said. “A key strategy for our growth is to see university innovations lead to private-sector job creation.”
CAP plans to dedicate about 20 percent of its new space to research and development, Daigle said, adding he hopes to attract more technology-related companies to Louisiana.
“When we get everything installed and we begin operating, we will be leaders and could have companies from around the world coming to visit,” he remarked. “So there’s a little bit of added benefit for Louisiana.”
CAP Technologies will use several economic development incentive programs offered by the Louisiana Department of Economic Development, namely the Research and Development Tax Credit program, which provides up to a 40 percent tax credit for research and development activities that meet particular qualifications.
CAP Technologies also will use Louisiana FastStart, a job-training program; the Quality Jobs program, which allows for salary rebates or investment tax credits if CAP technologies meets specific job-creation goals; and the Industrial Tax Exemption program, which provides a 100 percent property tax abatement for up to 10 years for new capital investments made on the property.
“Companies engaged in innovative research and development harbor true potential for our state’s economy when their work reaches the commercialization stage,” LED Secretary Stephen Moret said in a statement.
“CAP Technologies is an example of such a company, one that attracts significant venture capital, creates high-paying jobs and carves a new, important market niche as an economic driver firm — all outcomes we love to see take shape in Louisiana.”