This kind of growth is unprecedented among small businesses in this area.
Paterson, NJ (PRWEB) September 20, 2010
F3 Engineering, an aerospace industry engineering and manufacturing company, announced its intent to add an additional 100 jobs to its payroll over the next five years at a press event held September 8 at its East 26th Street manufacturing facility in Paterson. Congressman Bill Pascrell (D-District 8) was in attendance to help celebrate the announcement.
According to F3 President Odilo Vazquez, the jobs — the first two new employees will join the company later this month — will include engineering, manufacturing, and financial/administrative positions. The additional positions have been spurred from the recent receipt of contracts that include the addition of depot services, which involves inspecting and repairing support equipment that was damaged in use in the military theater. F3 is capable of making the needed repairs and returning the equipment for ongoing use.
F3 specializes in complex engineering and contract manufacturing solutions for the aerospace industry. The company is comprised of professionals trained in a variety of disciplines including electrical, mechanical and hydraulic engineering.
“We are not only creating high-tech jobs, but also high paying jobs,” said Vazquez,. In the city of Paterson, the median salary is $30,000. The median salary at F3 surpasses that number by almost $20,000.
When the company relocated to Paterson in February 2007 from the Technology Incubator at Picatinny Arsenal in Dover, they arrived in Passaic County seven employees strong. Today, they have 34 engineers, technicians and machinists who are helping to fill some of the most demanding contracts in today's aerospace engineering industry.
In just 3 ½ years, F3 grew more than 300 percent. The company's growth occurred so quickly that a portion of their 27,000-square-foot facility that they initially subleased to another company when they moved to Paterson had to be taken back to allow the company to expand its manufacturing space to meet order demand.
Jobs in Paterson have decreased by 34 percent since November 2008, with Paterson's unemployment rate of 9.7 percent slightly higher than the national average. Congressman Pascrell indicated this kind of growth is unprecedented among small businesses in this area, and cited the appropriateness of F3's announcement, since Paterson is known for being the first industrial city in the nation.
Congressman Pascrell added that not only was the return of manufacturing jobs significant, but highlighted the fact that F3 currently exports products to other countries. “This is critical for the overall recovery of our economy,” he said.
In June 2009, F3 hosted a New Jersey Small Business Administration panel discussion on the topic of health care insurance cost issues that employers face. F3 is one of approximately 25.8 million small businesses in the United States. The current administration has announced plans to help small businesses by cutting healthcare costs, improving access to capital and investing in innovation and development, with the intended result, additional jobs.
Preparing Today's Students for Tomorrow's Workplace
With the announcement of these jobs, F3 also committed to further securing its success by making sure a local, qualified workforce is there to fill the positions through support of two local schools that have programs in place which support F3's needs moving forward.
During the press conference, Vazquez announced the creation of a $5,000 scholarship which it presented to Passaic County Technical Institute (Passaic County Vo-Tech). The school offers training to its 3,200 students that enables them to compete in the marketplace.
“Passaic County Technical Institute is delighted to welcome F3 as our new business partner to assist us in creating a qualified and local workforce to fill the much-needed positions in the machine and aerospace industry,” said Diana C. Lobosco, chief school administrator. F3 plans to hire graduates of the program, in addition to providing internships for students interested in machining and technical assembly.
And F3's commitment to education is transcending into the post-graduate setting as well. The company also announced that it finalized an agreement with Stevens Institute of Technology to serve as a co-op program employer. The program allows undergraduate and graduate students from the school to work full-time in the areas of engineering and science that are related to their majors and career goals.
Students work a 35-hour week, receive a pre-determined salary, and benefit from the supervision of a co-op company employee. The interview and matching process between Stevens and F3 is scheduled to begin in October, and selected students will be working with engineers within the company.
“We are extremely excited to partner with F3,” said Maura O'Connor, cooperative education coordinator. “Our students will gain valuable, hands-on experience in a growing, dynamic company that is meeting a very specialized engineering need.”
“We look forward to continuing this growth pattern for many years to come, and want to thank the City of Paterson, Passaic County and the Small Business Administration for their support and guidance,” Vazquez said. “We could have never arrived at this point without their assistance.”
F3 Engineering is a provider of technology, products and services in military and commercial mission-critical applications. With the resources and technical expertise to prototype and manufacture highly complex products, F3 brings technical, administrative and managerial resources together to provide a total program of complex engineering and contract manufacturing solutions. For more information on F3’s dedication to providing technical guidance and support to its customers, visit http://www.f3engineering.com or call Ken Rosenbaum, General Manager at (973) 442-2290.