Wednesday, 03 August 2011 15:13
Louisiana Gov. Jindal Announces $8.1M Investment In Cap Technologies
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Today, Governor Bobby Jindal and CAP Technologies founder and President Daigle announced an $8.1 million capital investment for a metal coatings facility in Denham Springs, which the Governor claims will lead to 43 new direct jobs with an average salary of $52,000 a year, plus benefits – and an estimated 60 new indirect jobs, creating a total of more than 100 new jobs in the Capital Region.

 CAP Technologies founder and President Daigle launched the company in 2001, incubated the concept at LSU’s Louisiana Business & Technology Center (LBTC), and moved to an Industriplex Boulevard location in Baton Rouge in 2006 to complete their research and development phase. CAP Technologies has fully 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.

CAP Technologies’ process is environmentally friendly, using electricity and benign electrolytes to clean and coat metals. The process replaces the use of harsh acids that leads to hazardous storage and disposal issues at conventional metal-coating businesses. CAP’s technology is patented in 21 nations already, with additional patents pending.

To secure the expansion project, LED committed a customized workforce package from Louisiana FastStart™, and CAP Technologies is expected to utilize the state’s Research & Development Tax Credit, Quality Jobs, and Industrial Tax Exemption incentive programs. Daigle said his company also received invaluable support from the LBTC.

LED Sec. Stephen Moret said, “Companies engaged in innovative research and development harbor true potential for our state’s economy when their work reaches the commercialization stage. 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.”

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