Glacial Lakes Rubber and Plastics will be relocating to a 30,000-square-foot building within Pheasant Ridge Industrial Park in Watertown, South Dakota. The firm expects to increase its workforce by up to 50 associates in the next several years.
The company was recently approved by the state Board of Economic Development for a Revolving Economic Development and Initiative Fund loan.
“It’s always exciting to see our companies grow and evolve, but it’s especially encouraging when such a young, homegrown company like GLRP grows so quickly,” said Governor Dennis Daugaard. “When Minnesota Rubber closed in 2014, Robb Peterson stepped up to the plate. This expansion underscores the resiliency of Watertown’s manufacturing sector.”
“There are plenty of reasons why businesses should partner with the state when it comes to financing various projects within their business,” said Robb Peterson, GLRP President/CEO. “But the terms, the opportunity and the easy access to our government officials are just a few of those reasons. This isn’t the first time I’ve worked with the Governor’s Office of Economic Development and I’m confident it won’t be the last, either.”
Peterson says expansion into a bigger facility will allow him the room for continued growth in the future, adding up to 50 full-time employees over the next several years.
“We couldn’t be more encouraged by the fast pace growth of the company and the jobs it is creating,” Craig Atkins, Executive Director, Watertown Development Company, said. “We are pleased to have played a role in this expansion and we look forward to the company’s future success.”