CHICAGO - Gov. Rod R. Blagojevich today announced more than $630,000 in Opportunity Returns support for International Titanium Powder (ITP), a producer of titanium and titanium alloy powder, to help the Lockport-based company build a new production facility in Ottawa that will produce more than 4 million pounds of titanium powder per year. The major business development project will allow the company to create 42 new jobs.
“By taking a hands-on approach to the needs of business, both large or small, and responding with targeted resources, we can help businesses increase their competitiveness and reach new levels of productivity. This partnership we’re forging with International Titanium Powder is not only ensuring that a successful company will continue growing its business right here in Illinois, but is helping expand markets for an important commercial good,” Gov. Blagojevich said.
ITP’s current research facility, located in Lockport, is housed in a 10,000 square foot building. The facility, however, does not provide the expansion capacity the company needs, prompting the construction of the new production facility in Ottawa. The Lockport facility will remain for research and development purposes.
“With the support of Gov. Blagojevich’s Opportunity Returns program, we now have an opportunity to bring about a new titanium manufacturing industry in America. In the short term the titanium produced will benefit Department of Defense systems, however, the material will soon be widely available bringing about products to provided overall quality of life enhancement in a wide range of applications," said Stan Borys, CEO of International Titanium Powder, LLC.
International Titanium Powder, LLC was formed in 1997 to commercialize the Armstrong Process for the production of titanium, a process capable of producing both pure titanium powder and titanium alloy powder at a fraction of the cost of producing titanium by traditional processes. The new level of production will greatly expand existing titanium markets and help develop a new industry in the United States.
The new production process is environmentally friendly and produces no wastes. ITP has worked extensively with manufacturers in the commercial sector and the defense sector. Titanium and titanium alloy produced from the facility will be used in everything ranging from high-performance automobile brake rotors to armor for advanced army vehicles.
"I want to thank Gov. Blagojevich for his support of International Titanium Powder through this Opportunity Returns investment. The Governor's assistance, which has allowed the expansion of the company in Illinois, also means that its research facility will remain in Lockport," said State Senator A.J. Wilhelmi (D-Crest Hill).
"This Opportunity Returns support for International Titanium Powder is a great investment in the strength and vitality of the regional economy. The top priority for Gov. Blagojevich and I is to retain and create more good jobs for the people of Ottawa and Northwest Illinois. Strengthening the foundation of the manufacturing industry in our region will help create even more opportunities and more jobs down the line,” said State Rep. Frank Mautino (D-Spring Valley).
The business investment package is coming from the Illinois Department of Commerce and Economic Opportunity (DCEO) and includes Economic Development for a Growing Economy (EDGE) corporate income tax credits over the next ten years based on job retention and creation; and Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of its workforce.
“With the challenges of today’s global economy, it’s more important than ever to work closely with businesses to understand their unique needs and objectives, and then respond with the kind of customized support that will help them achieve their goals. Gov. Blagojevich continues making the types of investments that are essential to creating an attractive business environment that helps companies like International Titanium Powder thrive and will fuel more economic growth across this region,” DCEO Director Jack Lavin said.
Gov. Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses. It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.