World Class Industries Inc. Announces Proposed Expansion Project in Hiawatha
Apr 18, 2018
HIAWATHA, Iowa – World Class Industries, Inc., a global supply chain integration specialist, announces a proposal for an $8M business expansion development in Hiawatha.
For the past ten years, World Class Industries has used its current Hiawatha location for general offices and one of its manufacturing and warehouse facilities. Increased business growth has set in motion the need for additional space. The first phase of the proposed expansion project, located at Stamy Road, is the development of a new 50,000 square foot office, manufacturing and warehouse space to support new project incubation and product launches. This expansion project is contingent upon regulatory and governmental approval of financial assistance. The proposed project will create 28 new jobs.
“Currently, new projects are being developed at all WCI locations. With increased growth, the size of our space to on-board these new projects has become inadequate,” said Brent Cobb, President of World Class Industries, Inc. “We’re excited for the opportunity to keep our Hiawatha locations near each other and provide a positive impact on our employees while creating a new home of our fast-growing company.”
Plans call for the estimated groundbreaking to take place by August 15, with plans to occupy the location by April 15, 2019.
At an upcoming meeting, the City of Hiawatha will consider economic development assistance as well as sponsorship of a state financial assistance application for this project. On Friday, April 20, the Iowa Economic Development Authority board awarded World Class Industries tax benefits from the High Quality Jobs program. The project is expected to create 28 jobs, of which 16 are incented at a qualifying wage of $24.91 per hour. The Cedar Rapids Metro Economic Alliance assisted in preparation of the state application that was sent to the Iowa Economic Development Authority.
“World Class Industries has been a long-standing industrial pillar in Hiawatha. We realize there are opportunities outside of Hiawatha and are very excited World Class Industries continues to choose Hiawatha as their home,” said Hiawatha Mayor Bill Bennett. “This expansion plan retains one of our local businesses, adding to their footprint and creating new jobs in our community. Growth in this industry showcases confidence in the economy and in Hiawatha as a place to achieve success.”
“It is a pleasure to facilitate expansion projects for our local businesses,” said Executive Director of the Cedar Rapids Metro Economic Alliance, Doug Neumann. “We’re thrilled with World Class Industries’ success, and we know this proposed expansion will add value to the industries they serve. We’re pleased to be a small part of their project.”
More About World Class Industries:
World Class Industries is a global leader in simplifying supply chains, serving as a resource and direct supplier to the world’s largest original equipment manufacturers. They are known for offering innovative solutions that work to eliminate production problems, enhance overall efficiency and result in cost reduction and overall satisfaction. With six U.S. locations and two international hubs in Germany and the United Kingdom, World Class Industries has celebrated over 50 years of success in the industry. For more information, contact World Class Industries corporate office by phone (319) 378-1766 or via www.worldclassind.com.