Toyota Material Handling and the Raymond Corporation announced on Sept.9 the establishment of the Energy Solutions Manufacturing Center of Excellence.
The new facility, which will add 45 new jobs, is expected to be fully operational sometime in 2025.
“This grand opening marks a significant milestone in our company’s journey, “said The Raymond Corporation's CEO Michael Field, in a statement. “But more importantly, it represents our commitment to the future by bringing jobs, growth and opportunity to advance the community and the material handling industry."
Founded in 1922, The Raymond Corp. began in New York’s Southern Tier region as a foundry. In 2017 the company introduced its first lift truck powered by a lithium-ion battery.
Toyota Material Handling North America (TMHNA) is composed of two main group companies: Toyota Material Handling, Inc. and The Raymond Corporation. One in three forklifts sold in North America is either a Toyota or Raymond product.
“We are dedicated to powering a greener future, and this strategic investment will help us on that mission,” said Toyota Material Handling Vice President of Engineering Josh Linnemann, in a statement.
Empire State Development is assisting the company with the project by providing up to $1 million through the performance-based Excelsior Jobs Tax Credit program. The total project cost has been placed at a little more than $15.6 million.
This project further builds on New York's goal of supporting next-generation energy efforts. In January the U.S. National Science Foundation designated the New Energy New York (NENY) Storage Engine as a Regional Innovation Engine (NSF Engine). The NENY Storage Engine, anchored at Binghamton University in New York’s Southern Tier Region, will receive up to $15 million for two years and up to $160 million over 10 years to establish a hub that will accelerate innovation, technology translation and the creation of a skilled workforce to grow the capacity of the domestic battery industry. Through Empire State Development, New York State will match up to 20% for the first five years of the project as well as provide support through established programs.
