TOPEKA, Kan. (KSNT) – The Joint Economic Development Organization (JEDO) approved two projects Wednesday that would expand two Topeka industrial businesses.
JEDO will provide a total of $1,289,500 in tax incentives.
The expansions of Topeka Foundry & Iron Works and Haas Metal Engineering (HME, Inc.) will both bring in millions of dollars to the city and open up dozens of job opportunities.
Topeka Foundry & Iron Works, 300 SW Jackson St., is a full-service machine shop that offers construction services, machining services, commercial doors and hardware.
JEDO said the expansion is expected to add up to 75 new full-time jobs with an average yearly wage of $45,000, plus benefits.
The total economic impact expected in the next 10 years is $280 million, according to JEDO.
“Since being founded in 1876, the Topeka Foundry & Iron Works has been a strong part of the Topeka & Shawnee County community,” Angela Ayala, controller at Topeka Foundry, said in a news release. “Our goal is to provide our employees with competitive wages, benefits and opportunities for growth. The only way we can achieve that goal is to grow and be innovative and to invest back into our employees, equipment and our buildings.”
HME, Inc., 2828 NW Button Rd., provides structural steel and custom metal fabrication. Its expansion is expected to open up 167 new full-time jobs with an average yearly wage of $40,000, plus benefits, according to JEDO.
JEDO said capital investment from this expansion is estimated to be $6 million and the total economic impact expected in the next 10 years is $400 million.
Kevin Rake, CFO of HME, Inc. said in a release that they plan to grow three additional facilities on their Button Road facility over the next five years. Rake also said phase one of their three-phase expansion project is expected to begin at the end of this year. It will involve a “heavy structural expansion to HME’s paint shop and welding facilities.”
“This will add an additional 36,000 square feet and will include multiple additions to equipment, such as integrated painting lines and 40 additional welding stations,” Rake said.Phase two of the project includes adding materials for handrails, stairs and ladders. Phase three inlcudes adding an approximately 60,000 square foot manufacturing facility that would be able to produce heavy iron structural beams for schools and hospitals.