Meramec Electrical Products, a company that produces electrical products, will invest $5.7 million to expand its manufacturing operations in Cuba, Missouri, with estimates of creating 47 full-time jobs.
Meramec Electrical Products, founded in 1969, engineers and manufactures a broad range of custom-made instrument current transformers for the power transformer and high-voltage circuit breakers markets, Missouri Department of Economic Development said. The company’s current expansion will add new production lines and increase production capacity in order to meet the growing demand for its innovative products.
Missouri’s favorable business climate and innovative resources are creating economic growth around the state, Missouri Economic Development officials said. Some of Missouri’s resources and initiatives that have aided business expansions include; the Certified Work Read Community Program, export assistance, customized job recruitment and screening, Certified Site designation. To assist Meramec Electrical Products with its expansion, the Department of Economic Development authorized a strategic economic incentive package that the company can receive if it meets strict job creation and investment criteria.