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 has begun with completion projected for early 2015.
The expansion, which will almost triple the size of the company's workforce, is in response to increased customer demand and enables installation of additional state-of-the-art industrial coating and machining technology.
"Thermal Spray Technologies (TST) has experienced tremendous growth since it's founding a little more than two decades ago, and I'm thrilled the company has decided to continue its commitment to Wisconsin," said Lieutenant Governor Rebecca Kleefisch, who joined company officials in making the jobs announcement today.
"This expansion is reflective of TST's largest growth, to date," said Bill Lenling, TST president. "We're delighted to partner with WEDC through this exciting stage in our company's history."
The Wisconsin Economic Development Corporation (WEDC) is securing the 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 TST 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 and 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."