Pegasus Manufacturing Inc. plans to move its operations from Morgan Hill, California, to Galesburg, Illinois, according to a statement from the Illinois Department of Commerce and Economic Opportunity.
Pegasus supplies precision parts and assemblies to manufacturers around the globe including Harley-Davidson, Inc. When the company was looking to move, it debated staying in Texas or relocating to California. The company decided to move to Illinois based on the strong work ethic in the state as well as other business factors, according to Chief Executive Officer Ruth Whitehead.
The Illinois DCEO approved tax credits for Pegasus contingent on the company's capital investment of $1 million in Galesburg and job creation. The tax credits are worth an estimated $262,000 over 10 years and primarily rely on decreasing the company's state income tax liability.
Pegasus will also receive an $8,500 grant for job training and investment tax credit and sales tax exemption under Illinois' Enterprise Zone program, according to the DCEO's statement.
"Pegasus has customers across the country and we are glad it has found the Illinois advantages of location and transportation to be irresistible," Gov. Pat Quinn said. "We also are proud to help a business that is woman-owned."
Pegasus has already begun hiring employees to fill its 30 new positions, according to The Register-Mail.
Businesses moving to a new area should partner with manufacturing recruiters to find the most skilled local candidates.