Finnish equipment manufacturer Cajo Technologies, whose machines make permanent markings and color patterns on all types of products, will open a New Orleans site.
Cajo will create 47 direct jobs paying $55,000 a year, plus benefits. According to Louisiana Economic Development, the new plant also will generate 47 new indirect jobs.
Cajo was founded in 2010. The company uses a patented method that uses lasers to apply precise markings and permanent color patterns. No additives or pigments are needed.
The company will produce fully automated machines, manual and semi-manual standalone machines at the New Orleans facility.
“We chose Louisiana for the Cajo Technologies U.S. headquarters for many reasons: Louisiana has a very cost-efficient business environment to launch sales and production operations in the same place,” said Ismo Rantala, who manages U.S. operations for Cajo.
Cajo identified New Orleans as a prime location for its entry into North America while a client of Nest New York, a business accelerator that recently opened a New Orleans office.
Nest focuses on introducing north European companies into U.S. markets.
Cajo Technologies will locate its U.S. headquarters at Landing Zone New Orleans, a co-working space and business incubator at 625 Celeste St.
Cajo will house both sales and production in 2,000 square feet leased in the incubator.
The company began moving into the Landing Zone last month and plans to start commercial operations in September. Cajo has begun hiring and estimates it will complete that process by the end of 2017.
LED began working with Cajo on expansion plans in March. To secure the manufacturing project, the state offered incentives that include LED FastStart, a workforce development program, and the state’s Quality Jobs Program, which provides a cash rebate of 5 percent or 6 percent of annual payroll on new jobs for up to 10 years.
“What makes this announcement particularly exciting is that it marks the first of what will become many wins for greater New Orleans from the Scandinavian business accelerator Nest, which recently started its New Orleans office,” said Michael Hecht, president and CEO of Greater New Orleans Inc.
“We are excited to welcome Cajo Technologies to greater New Orleans, where the company can take advantage of the region’s strong manufacturing history.”