Consolidation of building, new equipment will accommodate future expansion
MADISON, June 6, 2013 – Argon Industries, Inc., Milwaukee, is investing $4.53 million to acquire and equip a facility, positioning the company for future expansion of its Contract Manufacturing of precision sheet metal fabrications. The project is expected to create up to 79 new jobs in the coming years.
“The expansion will provide us increased production space, lower our costs with just one production facility and add capabilities that we’ve previously outsourced,” said Greg Clement, president of Argon Industries. “This expansion allows us to invest in state of the art manufacturing technologies, to better serve our employees and customers.”
Argon currently leases two buildings in Milwaukee County, but will consolidate them into one 128,000 square foot location, providing more space for an anticipated growth in its workforce in the next two years. Argon Industries recently closed on the purchase of the former Dana Corp. building at 11500 W. Brown Deer Road.
“This investment by Argon Industries to consolidate its operations and expand in Milwaukee County is contributing to the economic growth and new job opportunities in Wisconsin,” said Gov. Scott Walker.
The Wisconsin Economic Development Corporation (WEDC) is working with Argon Industries to finalize a co-investment package to support the expansion.
“We are pleased to be a partner with Argon to help them maintain and expand their operations in the Milwaukee area,” said Reed Hall, Secretary and CEO of WEDC. “Their consolidation will position the company for future expansion.”
Argon also secured a $900,000 loan from the Milwaukee Economic Development Corp. for the equipment purchases.
“As Argon Industries moves forward with its plans to consolidate its operations and add dozens of new jobs, I’m pleased the Milwaukee Economic Development Corporation was able to assist,” Mayor Tom Barrett said. “The company carefully considered its options and chose to locate on Milwaukee’s northwest side because it is a great place to do business. We enthusiastically welcome Argon Industries.”
“Argon is precisely the type of company we want in southeastern Wisconsin,” said Jim Paetsch, Vice President of the Milwaukee 7 regional economic development group. “Companies like Argon are critical to our region, offering good paying jobs to skilled workers. When M-7 promotes the region, we talk at length about our strong manufacturing supply chain. Argon helps us to back-up that claim. The best is yet to come for this company.”
Argon Industries, which has 71 full-time employees currently, is a contract manufacturer of metal parts for generators, appliances and HVAC equipment.
About Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing Wisconsin’s business climate. WEDC nurtures business growth and job creation by providing resources, technical support and financial assistance to companies, partners and communities in Wisconsin. WEDC has four focus areas: business and industry development, economic and community development, entrepreneurship and innovation and international business development. Together with more than 600 regional and local business development partners, it represents a highly responsive and coordinated network. Visit www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.