GW Plastics, based in Bethel, says it will add more than 70 new jobs in Central Vermont.
The company produces precision injection molded products for a variety of industries, but its work manufacturing medical devices is fueling the expansion, which the company estimates will cost $10 million.
“The medical industry is the largest market that we serve in our company. The fact is, we find ourselves out of space in Vermont. We had to make a decision to expand, whether it was in Vermont, one of our other locations or perhaps a new location,” says GW Plastics CEO Brenan Riehl.
Riehl says the state courted the company, offering it incentives to expand a facility in Royalton.
Gov. Peter Shumlin is recommending the company be awarded $500,000 in state funds from the Vermont Enterprise Fund. In addition, GW Plastics will receive money under the Vermont Employment Growth Incentive program.
Riehl says the incentives plus the company’s history in Vermont helped tip the scales toward expanding here instead of one of the other states where it has facilities.
“The costs of our expansion with respect to real estate and capital are going to be very substantial, far more substantial than the incentives, but the incentives are meaningful,” he says.
GW Plastics currently employees more than 300 people in Vermont and has 1,000 employees worldwide.