Polaris Industries, Inc., a powersports off-road vehicle manufacturer, plans a $22.6 million capital investment to expand its production center in Spirit Lake, Iowa, with plans to create 79 jobs.
Polaris designs, manufactures and markets innovative, off-road vehicles and also sells parts, garments and accessories under the brand name PURE POLARIS.
As an incentive the Iowa Economic Development Authority awarded the firm $395,000 in direct financial assistance, as well as tax benefits to expand its existing facility in Spirit Lake by approximately 80,000 square feet. Expansion is needed to house new equipment and production lines. The city of Spirit Lake also awarded the company a tax abatement.
"Our focus is on pursuing viable economic development and employment opportunities for the state of Iowa," stated IEDA director Debi Durham. Our entrepreneurial programs continue to play an important role in developing and nurturing innovation."
The company recently celebrated production of its one millionth product manufactured at its Spirit Lake assembly plant, an orange Polaris RANGER 800 Midsize side-by-side vehicle.
"One million units built marks an extraordinary milestone for our Spirit Lake operation," said Bennett Morgan, Polaris President and Chief Operating Officer. "For nearly two decades Spirit Lake has been a manufacturing center of excellence and a vital contributor to our success. Thanks to the adaptability of both our outstanding people and the facility itself, Spirit Lake has, in its 18 year history, produced each of our product lines; Snowmobiles, ATVs, Side-by-Sides and Motorcycles."
The Spirit Lake facility, at 1900 US 1 on the western shore of East Okoboji Lake in the state's Great Lakes region, increased its workforce from 477 in 2009 to its current 750 employees. The plant operates three production lines building Polaris RANGERs and Victory motorcycles. A second facility, adjacent to the main Spirit Lake plant, manufactures its Indian Motorcycle. The expansion is necessary to accommodate growth in its Indian motorcycle brand.