Canadian-based Louis Garneau, USA Expands Cycling Production Facility In Derby, Vermont
Area Development Online News Desk (07/18/2013)
Cycling equipment manufacturer WEV USA, LLC will be constructing a 60,000 square foot administration, production, and distribution facility on a 17-acre parcel on Route 5 near I-91 for lease to Louis Garneau, USA, Inc., in Derby, Vermont.
Since 1989, Louis Garneau, USA, Inc. has operated out of leased space in Derby, manufacturing and distributing a full line of cycling equipment and accessories for the professional and amateur cycling enthusiast.
Louis Garneau, USA, Inc. is the U.S. affiliate of Canadian-based, Louis Garneau Sports, founded over 30 years ago by renowned Canadian cyclist Louis Garneau, a member of the 1984 Canadian Olympic cycling team.
The Vermont Economic Development Authority approved $1.5 million in financing to assist with the $8 million manufacturing expansion project. Within three years of the Derby expansion project, Louis Garneau, USA, Inc. expects to increase employment numbers at the new plant from the current 90 positions to 120, VEDA said. People’s United Bank is also providing financing for the project.