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Excel Foundry to Invest $7.4 Million on Expansion |
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Released on January 17, 2012
Excel Foundry & Machine, Pekin, Ill., recently announced plans to spend $7.4 million to increase its manufacturing space, expand its main office area and construct a new warehouse.
According to a press release issued by Illinois Governor Pat Quinn’s office, the project will result in a 108,750-sq.-ft. warehouse adjacent to Excel’s existing plant, an 8,600-sq.-ft.addition to the office building and a 3,373-sq.-ft. foundry expansion. The additions are expected to bring 100 new jobs to Excel, a 230-employee centrifugal casting facility primarily supplying bronze parts to the mining industry.
The governor’s office indicated the state will invest more than $1 million in Excel via tax credits and an employer training incentive program grant. The state’s investment is contingent on the company meeting its investment and job numbers.
The county in which Excel is located will receive a $750,000 development assistance grant through the Illinois Department of Commerce and Economic Opportunity and more than $859,000 through the Illinois Department of Transportation’s Economic Development Program for road improvements to accommodate the expansion.
“Illinois’ strong manufacturing tradition is due in large part to the strength of our workforce, our ability to help companies move product quickly and our investments in infrastructure,” Quinn said.
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