Altec Industries has announced that it is expanding its facilities in St. Joseph, Missouri. The company manufactures heavy mobile equipment and related parts primarily for the utility, telecommunications and tree care industries. The main manufacturing facility is located at 2106 South Riverside Road in St. Joseph.
Altec will invest a significant amount of capital in personal property improvements, manufacturing and non-manufacturing machinery and equipment, as well as real property improvements. The investment will increase the efficiencies and improve quality through advanced manufacturing processes at the main campus and at leased facilities in St. Joseph. The project is expected to create a minimum of 105 new jobs over a three-year period.
With the assistance of the St. Joseph Chamber of Commerce, the company worked with the City of St. Joseph and Buchanan County on a proposal to expand in the community. To encourage the investment in St. Joseph, various local incentives were offered. Resolutions to authorize increased real property tax abatement under the Enhanced Enterprise Zone for the first five years of the project and personal property tax abatement under the State of Missouri Chapter 100 Program will go before the City Council for approval at its February 27 meeting. The community will not only see the creation of new jobs, but also an increase in its tax base as a result of the new investment. The State of Missouri also provided incentives under the Missouri Works Program.
“Altec would like to thank the Chamber, the City of St. Joseph, Buchanan County and the State of Missouri for all of the efforts and help with our expansion plans. These are exciting times as we invest back into the community. Our goal is to be good stewards in all communities in which we live and work. It is this type of cooperation that allows us to keep growing our facility in St. Joseph”, stated Colby Edwards, Director of Manufacturing, St. Joseph.
Since 1929, Altec has been a leading equipment and service provider for the electric utility, telecommunication, contractor, lights and signs, and tree care market. The company provides products and services in more than 100 countries throughout the world.