Finland-based Cajo Technologies announced plans this afternoon to establish its first U.S. plant for manufacturing laser-based machinery in New Orleans. Louisiana Economic Development estimates the company will create 40 new direct jobs paying an average salary of $55,000, plus benefits, with hiring having already begun and expected to conclude by the end of 2017.
Founded in 2010, Cajo’s machinery creates permanent markings and color patterns on almost any material for uses in manufacturing industries. The company will occupy about 2,000 square feet at Landing Zone New Orleans, a co-working space and business incubator at 625 Celeste St., which will serve as the company’s U.S. headquarters.
The company began moving into the Landing Zone in June and plans to start commercial operations in September. Along with production, the site will serve as a sales center for Cajo.
LED says 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.
LED began working with Cajo on expansion plans in March. To secure the move to New Orleans, the state is providing the company with an incentive package that includes workforce development assistance through the LED FastStart program. Cajo is also expected to utilize the state’s Quality Jobs Program, which provides a cash rebate of up to 6% of the company’s payroll on new jobs created for 10 years.
Founded in 2010, Cajo is headquartered in the northern Finland city of Kempele.
“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,” says Cajo U.S. Operations Manager Ismo Rantala in a prepared statement.
