Fair-Rite Corporation, a 70-year old manufacturing company employing 355 people worldwide and 115 in Wallkill, NY, seeks funding from the Empire State Development Corporation (ESD) to upgrade equipment and factory space used in the manufacture of ferrite. Ferrite is a ceramic material that can be magnetized for use in a variety of electronics-related applications including high-frequency power supplies, television antennae, animal tracking devices, and coin vending machines. It also has medical, lighting, and automotive applications. The proposed project will replace and upgrade a ferrite press and forklift, and renovate Fair-Rite’s Grinding Room. These upgrades are needed to improve efficiency and competitiveness, allowing the company to continue to operate in Wallkill, where it recently expanded employment by 15 jobs. In addition, several established customers will permanently have their parts manufactured in Wallkill, totaling over $415,000 in sales so far in 2022 with additional open orders of nearly $450,000 through the end of the year. The planned equipment upgrades and building renovation will allow Fair-Rite to justify maintaining its operations in New York state.