Yesterday, CAP Technologies founder and President Edward Daigle announced an $8.1 million capital investment for a metal coatings facility in Denham Springs that 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 developed an environmentally friendly patented process for cleaning and coating advanced metals.
Daigle launched the company in 2001, incubated the concept at LSU’s Louisiana Business & Technology Center, or 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.
“Born on a university campus, CAP Technologies is exactly the type of company we want to help cultivate in Louisiana in order to diversify our economy and create more jobs for our people so they don’t have to leave home to pursue their dreams,” said Gov. Jindal. “With the help of our research and development tax credit and business-friendly environment, CAP Technologies has literally grown from an idea at a university to a company that is now creating good-paying jobs for our people.”
Daigle said, “Our major multimillion-dollar investment in the Capital Region of Baton Rouge is evidence of the positively changing business landscape in Louisiana. We look forward to growing and succeeding here for years to come.”
To secure the expansion project, Louisiana Economic Development 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.
“Companies engaged in innovative research and development harbor true potential for our state’s economy when their work reaches the commercialization stage,” said LED Secretary Stephen Moret. “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.”
CAP Technologies was named LBTC Tenant of the Year in 2004. Five years later, the company gained recognition as the Center’s graduate of the year.