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Kennametal Inc. in Greenfield will invest almost $5 million in Greenfield.
(Submitted photo)
Kennametal's announcement Wednesday that it will expand in Greenfield by $5 million and 70 jobs isn't just welcome news, it's nearly miraculous.
As industry after industry leaves the Northeast for cheaper labor in the South, and lax environmental rules south of the border or overseas, this company is staying put and bucking the trend.
The move, announced Wednesday, would more than double the staff at Kennametal, which has a staff of 63 now. the Pennsylvania-based company bought the old Greenfield Tap & Die, which was once the largest company of its kind in the world, back in 1997.
Earlier this year, Kennametal announced it was closing its plant in Lyndonville, Vermont, and would shift production to either Asheboro, North Carolina, or to Greenfield.
As it happened, Franklin County Technical opened a $717,000 precision machining shop last year, which offers classes to high-school students and adults looking to gain in-demand machine-shop skills.
In June, the state approved a package of incentives including a discount electricity-purchase program, worker education and a 20-year tax increment financing agreement worth $182,000 and a $465,000 state income tax credit.
It is our hope that Kennametal will stay in Greenfield for years to come.
With announcements like this, New England’s proud history in manufacturing may also become a source of continuing promise.