Lt. Governor Kim Guadagno continues “NJ Tried and True” Business Tour with Visit to Marotta Controls, Inc.
Trenton, NJ – Lt. Governor Kim Guadagno today visited Marotta Controls, Inc. in Montville, the second stop in her “NJ Tried and True” business tour. These stops showcase New Jersey’s unique family-owned and longstanding companies.
“From controlling Chuck Yeager’s supersonic flight, to propelling Americans to outer space, to protecting our Navy’s ships and submarines, for the last seven decades Marotta Controls’ products have been at the forefront of America’s aerospace and defense successes,” said Lt. Governor Guadagno. “Those accomplishments reinforce the fact that New Jersey’s family-owned businesses can survive, thrive and, in Marotta Controls’ case, ‘soar’ to new heights.”
Formed in 1943, the third-generation family-owned engineering and manufacturing firm produces pressure, flow, motion and electronic control systems and components designed for the aerospace, space, defense and commercial aerospace markets.
Marotta Controls gained prominence in the aerospace industry when it provided control valves for the rocket engine that powered Chuck Yeager’s supersonic flight in 1947. Marotta’s success continued during the early days of manned space flights, when its products were used on the Saturn and Apollo missions to the moon. Today, Marotta’s innovative technologies continue to push the boundaries on the most advanced programs of our time.
“We are proud to have our roots in New Jersey, and continue to contribute to our home state by increasing the number of high quality engineering and manufacturing jobs in our community,” said Tom Marotta, Chairman and CEO of Marotta Controls. “We are fortunate to have the close cooperation of Lt. Governor Guadagno, who has demonstrated a strong commitment to supporting the economic development of New Jersey.”
Marotta Controls employs approximately 200 people in its state-of-the-art facility. All engineering, R&D, manufacturing, assembly, quality control and program management activities take place under one roof. Earlier this summer, Marotta Controls received the U.S. Small Business Administration’s 2014 Regional Subcontractor of the Year Award for Region II, which includes New Jersey, New York, Puerto Rico and the U.S. Virgin Islands.
Across the United States, family-owned businesses account for 50% of the gross domestic product and 78% of all new job creation. Only 30% of family-owned businesses in America will be passing the reigns to the next generation, even though close to 70% would like to keep their business in the family. By the third generation, only 12% of family-owned businesses in the US are typically still viable. By the fourth generation and beyond, only 3% of family-owned businesses continue to exist. With its impressive record of innovation, technological breakthroughs and historic accomplishments, by land, sea and air, Marotta Controls represents the undeniable value of multigenerational family-owned companies.
(originally published on www.nj.gov)