The City of Rochester’s Department for Economic Development held a groundbreaking ceremony for LDI Solutions on October 22nd, 2020. Plans are already underway to construct a 24,000 square-foot facility in the Granite State Business Park off Route 108.
LDI originated in Rochester at the Gonic Mill and then relocated to Portsmouth. They’ve since decided to return to Rochester to build a new manufacturing facility after City Council approved a loan of $3 million, which are funds borrowed by the Rochester Economic Development Commission from the NH Business Finance Authority (BFA).
LDI will then begin fully repaying the $3 million, along with the entirety of its 4.75% interest, once the facility is completed by fall 2021.
“Together we came up with a plan that worked. It’s unlike anything Rochester has ever done before and the template can be used again in the future,” said Michael Scala, Director of Economic Development for the City of Rochester. “This plan is something that will assist Rochester’s diverse manufacturing base. LDI is a unique and successful business that will provide dozens of good paying positions to local workers .”
Scala thanked the various partners that worked together to make the expansion a possibility. Most notably, LDI’s CEO Lou LaMarca, and President Josh Dame, Chairman of the Rochester Economic Development Commission, Jonathan Shapleigh, BFA’s Senior Credit Officer Jeremy Stanizzi, the Rochester City Council, City Manager Blaine Cox, as well as Rochester City Staff, City Attorney, Terence O’Rourke, and Mark Sullivan, Deputy Finance Director.
LDI manufactures eco-friendly wall coverings and upholstery for clients globally. They currently employ 28 people.
The business was founded to develop sustainable products to protect the environment and human health. Rooted in material science, engineering, and innovation, the organization focuses on sustainable technology to provide safer alternatives that offer ultimate performance and superior value, according to its website.
LDI clients include Cleveland Clinic, MIT, Harvard University, American Airlines, Google, and the United Nations.
“There are many places we could have located our business but Rochester was our first choice,” said LaMarca. “LDI will benefit the Rochester community for years to come. We plan to bring clean, high-tech jobs, and tax revenue to the City of Rochester. More importantly, we want to enrich the community and support our High School students.”
“This is an exciting day for the City of Rochester,” said Madison Lightfoot, a representative for Senator Jeanne Shaheen. “In choosing to build an expansive facility in Rochester, LDI Solutions will strengthen the city’s advanced manufacturing corridor and generate more good-paying, high-tech jobs.
“Investing in our workforce today can grow and modernize a manufacturing sector that fully embraces the jobs of tomorrow,” Shaheen continued.
LDI plans to complete construction in fall 2021 and employ 30-50 workers. Visit www.ldisolutions.com to learn more.