Acutec Precision Aerospace Inc., a manufacturer of components and subassemblies for the aerospace industry, will invest its aerospace manufacturing complex in Meadville, Pennsylvania. The company plans to create 60 manufacturing jobs in Crawford County.
The company will expand into an additional 70,000 square feet and construct a 13,000-square-foot connector to the 188,735-square-foot space it already occupies in the Crawford Business Park.
This additional space will allow Acutec to add significantly to its manufacturing capacity, meeting the needs of its expanding customer base and the growth demands of its existing customers. The saw and material handling department will be moved into the new space, and the stock room and packaging will be shifted from the shop floor to increase manufacturing space. Acutec has committed to investing at least $10.7 million into the project, creating 60 new jobs, and retaining 450 employees over the next three years.
“As the international aerospace industry, including commercial, defense and space, continues growing, this proves to be the ideal opportunity for expanding the capacity of our Meadville facility,” said Elisabeth Smith, President & CEO of Acutec. “For thirty years we have been based in Crawford County, and we are thankful for the dedicated workforce in this area that has made this possible.”
As an incentive, Acutec Precision Aerospace received a funding proposal from the Pennsylvania Department of Community and Economic Development for a $250,000 Pennsylvania First grant and $120,000 in Job Creation Tax Credits to be distributed upon the creation of new jobs.
Acutec was also recently approved through the Economic Progress Alliance of Crawford County for a $2.2 million low-interest loan from the Pennsylvania Industrial Development Authority (PIDA) to assist with the costs of renovation and construction. The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania, in coordination with the Economic Progress Alliance of Crawford County.
“The decision by a high-tech manufacturer like Acutec Precision Aerospace to grow its workforce here in Pennsylvania shows that the industry recognizes the quality of our workers,” Governor Tom Wolf said. “Acutec has a decades-long history in Crawford County, and I applaud their decision to stay here and grow in the years ahead. This is great news for workers in the area, great news for Acutec, and great news for Pennsylvania.”
“Acutec Precision Aerospace is an impressive company that we have had the pleasure to work alongside as they expand at our Crawford Business Park in Meadville,” said Jim Becker, Executive Director of the Economic Progress Alliance of Crawford County.
“This expansion by Acutec represents a long-term investment in the Crawford County area that will boost both our local and regional economies for many years to come. We applaud the governor, Governor’s Action Team and the Department of Community and Economic Development for their efforts to support this project and thank Acutec for their commitment to Crawford County.”