(Spencer)– Some new job opportunities are coming to the Iowa Lakes Corridor.
Terramech founders Steve Wagner, Chris Wilken and Brian Nelson announced this (Tuesday) morning they’ll be opening a plant in Spencer that will manufacture rubber-tracked undercarriage assemblies, often found on construction equipment. The assemblies will be marketed nationwide.
Wagner said they plan to start operations in Spencer in May.
He says the company plans to create 11 new jobs by the end of its first year of operations, with 34 new jobs over three years.
Spencer won out of over Sioux Falls, which was also vying for the company. Wagner says there were many factors behind the decision to locate in Spencer, including quality of life; a skilled labor force; state, county and local financial incentives; and the availability of facility options.
The company is currently negotiating terms of a lease for a building. Wagner says they’re looking at a facility about six thousand square feet in size.
The company plans to be up and running in May.
Two of the three founders of the company are former residents of the area. Both Wagner and Wilken worked previously for Great Lakes Aviation formerly of Spencer.
