CAP Technologies, a Baton Rouge company that uses electricity and electrolytes to clean and coat metals, will hire 43 new workers at an average salary of $52,000 at its new $8.1 million metal coatings facility in Denham Springs, the company and Gov. Bobby Jindal announced Wednesday.
The facility will spawn another 60 jobs indirectly for the local economy, the state estimated.
CAP Technologies has renovated and constructed a 50,000-square-foot facility in Denham Springs where the company will begin hiring this fall and start commercial production by December.
Jindal hailed CAP Technologies, which was launched at LSU’s Louisiana Business and Technology Center before moving out to Industriplex Boulevard.
“With the help of our research and development tax credit and business-friendly environment, CAP Technologies has literally grown from an idea at a university to a company that is now creating good-paying jobs for our people,” Jindal said.
CAP’s technology is patented in 21 nations already, with additional patents pending.
To secure the expansion project, the Louisiana Economic Development department committed a customized workforce package from the Louisiana FastStart job training program. CAP Technologies also is expected to use the state’s Research & Development Tax Credit, Quality Jobs and Industrial Tax Exemption incentive programs.
LED began working with CAP Technologies in October 2010 to assist the company with its potential expansion. LEDC and the Baton Rouge Area Chamber also provided site selection, permitting and incentive support on the project.