Pewag, an Austrian-based chain manufacturer, will open its first North American manufacturing center at a 55,000 square foot production plant at Minnequa Industrial park on the South end of Pueblo, Colorado, initially creating about 55 jobs.
While the firm that manufactures traction or snow chains, industrial chains and tire protection chains did not disclose the total amount of its investment, published reports estimated it at around $10 million.
Pewag USA President Mike Uhrenbacher says economic incentives from the city played a part in choosing to put a plant in Pueblo, along with access to the supply chain, a skilled and qualified workforce, training capabilities with Pueblo Community College, and support from the Pueblo Economic Development Corp.
The city adopted a half-cent sales tax to provide incentives to firms that create jobs and awarded an estimated $950,000 to Pewag from that fund. The state of Colorado and city also provided an additional $1.2 million incentives.
"We believe it is communities like Pueblo that will turn the economy in America around because they are in tune with businesses, their people and markets, " Uhrenbacher added. "Pewag is just one step in the right direction for Pueblo to continue the recovery efforts for our economy".
Pueblo Economic Development Corporation Board of Directors Chairman, Andrew Lang said, "Pewag really is a solid company and excellent addition to Pueblo's strong manufacturing base. And, if you talk about stability, this company has longevity with roots that even pre-date the founding of Pueblo as a trading post. We are very pleased that Pewag has chosen our community to construct its first North American manufacturing operation."