PULASKI — The Fulton Companies announced it has received a $221,000 capital-investment incentive grant from National Grid for infrastructure improvements to support the company’s 112,000-square-foot expansion and $13.9 million capital-investment plan.
“The grant from National Grid allows us to begin to expand our facilities — this means more business, more customers, and more jobs,” Kevin LaMontagne, Fulton Companies chief financial officer, said in a news release. “We plan to add approximately 50 new jobs in our Pulaski office over the next five years.”
The company is a global manufacturer of steam, hydronic, and thermal-fluid heat-transfer products.
National Grid’s capital-investment incentive grant will be used toward the costs of construction of Fulton Cos.’ new 82,000-square-foot manufacturing floor, 10,000-square-foot research-and-development center, and 20,000-square-foot office space, according to the news release.
The grant also assists Fulton Cos.’ $13.9 million capital investment in projects such as expanding thermal-fluid heating-product lines, creating lower-emissions products, and manufacturing a wider range of large boilers.
The Fulton Companies, which started in 1949, has 260 employees locally and 850 employees globally. It has manufacturing facilities in the United States, Great Britain and China.
National Grid (NYSE: NGG) provides electricity to about 3.3 million customers in Massachusetts, New Hampshire, New York, and Rhode Island. It is the largest distributor of natural gas in the region.