Royal Engineered Composites Plans Expansion Of Its Minden, Nebraska, Manufacturing Facility
“Royal Engineered Composites has been a strong presence in Minden, providing key manufacturing jobs and top shelf custom products for our nation’s commercial and military transportation industries,” said Governor Dave Heineman. “We’re pleased to support the continued success of this great corporate citizen and provide good manufacturing careers for hard-working Nebraskans.”
State officials awarded $605,000 in Community Development Block Grant funding to the city of Minden to assist the firm with its expansion project. Under an agreement with the city of Minden, South Central Economic Development District, a non-profit development organization, will lend Royal Engineered Composites $600,000 to purchase equipment and apply toward working capital. The remaining $5,000 will go toward project-related administrative costs. Additional loan funding of approximately $2 million from an area bank will complete the project, state economic development officials said.
Royal Engineered Composites’ custom manufactured products include composite access doors, ductwork, cowlings, thrust reverser panels and radar domes. According to state officials, Phillip and Nancy Gill are in the process of selling Royal Engineered Composites to its employees. The company anticipates nearly doubled sales from 2014 to 2018 due to the recent receipt of larger contracts from major aircraft companies with which it conducts business.
The Nebraska Department of Economic Development administers the state’s CDBG program. U.S. Department of Housing and Urban Development provides funds to Nebraska for the CDBG program, which assists with the development of businesses and communities throughout the state.
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