Thermal Spray Technologies Invests $11.5 Million To Expand Its Sun Prairie, Wisconsin, Manufacturing Center
TST purchased a 92,000-square-foot building near its existing facility in the Sun Prairie Business Park, which will undergo a complete renovation. Construction is now under way with a completion date projected for early 2015. The company now employs about 125 workers and manufactures product-specific wear resistant and protective coatings that are used in the aerospace, electronics, agriculture, medical, oil & gas, automotive, power generation, papermaking, printing, food processing, and defense industries.
According to state economic development officials the expansion, which ultimately will triple the size of the company’s workforce, is in response to increased customer demand and will enable TST to install state-of-the-art industrial coating and machining technology.
“Thermal Spray Technologies has experienced tremendous growth since it was founded a little more than a decade ago, and I am thrilled the company has decided to continue its commitment to Wisconsin,” said Lieutenant Governor Rebecca Kleefisch. “This is another example of how our administration has created a pro-business environment that gives Wisconsin’s employers the confidence to grow their companies here.”
“This expansion is reflective of TST’s largest growth, to date,” said Bill Lenling, President of TST. “We are delighted to partner with WEDC through this exciting stage in our company’s history.”
As an incentive, Wisconsin Economic Development Corporation is securing those jobs by providing TST with up to $750,000 in Economic Development Tax Credits over the next three years. The actual amount of credits received is contingent upon the number of jobs created and the amount of capital investment the company makes.
“WEDC congratulates Thermal Spray Technologies on its continued success and is pleased to be able to assist the company with this major expansion, which will bring more family-supporting jobs to the region,” said Reed Hall, Secretary/CEO of WEDC, the state’s lead economic development organization. “In the last two years, our Economic Development Tax Credit Program has helped more than 120 companies create or retain 27,000 jobs—and it is great to see another company utilize this important tool for economic growth.”
Biogen Establishes Research Triangle Park, North Carolina, Gene Therapy Production Campus
Trends in Office and Industrial Parks
34th Annual Corporate Survey & the 16th Annual Consultants Survey
“Made in America” Executive Order to Affect International Companies and FDI
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Another Look at Rural Economies
Pandemic Fuels Data Center Growth