OGDENSBURG -- Canexsys Networks, Inc. intends to set up a manufacturing operation in the former Newell Manufacturing building.

The company manufactures electronic circuit boards, connectors, metal fabrication and injection mold plastic.

Canexsys will occupy the Newell property this spring, and plans to hire more than 40 workers over the next three to five years. The property, which was taken over by the city in 2012, will be acquired by an affiliate of Canexsys as part of the $3.7 million project to revitalize and reuse the facility.

"The company’s decision to locate its operation in Ogdensburg was a culmination of economic development efforts between the IDA, the City of Ogdensburg, National Grid, Empire State Development, the Development Authority of the North Country and the New York Power Authority," St. Lawrence County IDA said in a news release.

The IDA is working with its development partners to local and regional funding assistance to supplement over $2 million in equity and private financing that the company is bringing to the project.

Empire State Development, New York State’s economic development agency, has offered the company up to $250,000 in performance-based Excelsior Jobs Program tax credits, which are tied to the company meeting its job and investment commitments.

NYPA is also working with the company as it applies for an allocation of low-cost power from the Power Authority’s Preservation Power program. National Grid has  invited the company to apply for assistance through its economic development programs for the revitalization of the Newell property.

With over 20 years’ electronic assembly experience, Canexsys offers turn-key PCB assembly, plastic injection molding and light metal fabrication.

Using SMT and odd-form placement equipment, coupled with electric injection machines, Canexsys’ manufacturing is "environmentally sustainable using only lead free materials and processes," IDA said.

Canexsys’ partner companies include engineering and design services, electronic assembly, component manufacturing and logistics.

Interested applicants for positions with Canexsys may apply by submitting a resume to the Ogdensburg Career Center located at 1031 Paterson Street, Ogdensburg, NY 13669. Resumes may also be faxed to 315-393-5894 or emailed to [email protected].