Almost 100 jobs will be created by an $11.8 million investment by Quatro Composites, an advanced composites manufacture for the aerospace, defense, industrial and medical industries, at its Orange City, Iowa headquarters.
Located at 403 14th Street SE in Orange City, the firm specializes in designing and fabricating advanced composite structures for commercial aerospace, unmanned aerial vehicles and medical equipment manufacturers. The company said its recent growth has been driven by several contracts from aerospace suppliers to produce carbon composite structures for the new 787 Dreamliner airplane. The increased manufacturing space will allow Quatro to take on additional new business opportunities for other manufacturers.
According to Steve Roesner, President and COO of Quatro, the expansion will add approximately 45,000 square feet and nearly double the current size of Quatro's corporate and manufacturing facilities. It will also create 99 new jobs in Iowa within 36 months. Construction is scheduled to start this fall and be completed in June 2013.
"Quatro's dramatic growth is a direct reflection our employees," Roesner said. "Thanks to their hard work and innovative thinking, we have been able to achieve something special."
As an incentive, the expansion was made possible, in part, by $1.5 million in direct financial assistance from the Iowa Economic Department Authority. "We are honored to be selected as one the recipients of funding support from IEDA," Roesner said.