Economic Alliance Assists in Expansions of New & Existing Business
May 25, 2021
ColorCoat, Inc. and Sadler Power Train are just two recent projects the Economic Alliance’s Economic Development team has had the opportunity to support with site data, property connections and, in some cases, application assistance for city and state incentives.
“It is a pleasure to facilitate new business and local expansion projects while helping growth opportunities however we are needed,“ said Mike Lukan, Local Business Project Specialist, Cedar Rapids Metro Economic Alliance. “We’re pleased to be a small part of their impressive growth.”
ColorCoat, Inc. is a new business to the area and will be opening a location in Cedar Rapids. They have leased around 20,000 square feet at 551 60th Ave. SW in Cedar Rapids. The company will occupy roughly one-half of the newly constructed industrial building. The capital investment for the project is $400,000 and will create 40 new jobs in Cedar Rapids.
The Economic Alliance assisted ColorCoat with site data, site visits and property connections which ultimately resulted in the selection of the property they will occupy.
Established in 2003, ColorCoat, Inc. is the largest third-party exterior coatings applicator for the window and door industry. It currently operates nine manufacturing operations throughout the country.
Sadler Power Train, a distributor of light, medium and heavy-duty truck parts to customers in Iowa, Illinois and Wisconsin, announces plans to construct a 10,000 square foot addition to their existing 46,000 square foot facility located at 2150 Sadler Drive SW in Cedar Rapids for a $1.2 million business expansion development.
The expansion will allow for increased remanufacturing capacity and inventory storage. The project is expected to create four jobs, of which one is incented at a qualifying wage of $23.20.
Due to the devastating Flood of 2008, Sadler Power Train was forced to move out of their downtown Cedar Rapids facility and relocate to their current location on the southwest side of the city. In their current location Sadler Power Train has been able to keep pace with its growth, but the expansion is necessary for increased opportunities.
Founded in 1974, Sadler Power Train is the Sadler family’s second established company after Sadler Machine Company was founded in 1956 by Roy and Myrna Sadler. Beyond the distribution of products, Sadler Power Train also remanufactures driveshafts, differentials and transmissions and has stores in Cedar Rapids, Davenport, Dubuque, and Waterloo. The company provides parts for engines, suspensions, wheel-end, hydraulics, drivetrain, electrical systems, and much more.
The expansion is scheduled to be completed December 2021. Renovation plans will begin May 2021.