Riverside Machine & Engineering Inc. has outgrown its current facility in Chippewa Falls, Wisconsin, and is expanding in a new facility in Eau Claire, Wisconsin, according to the Wisconsin Economic Development Corporation.
The precision machining company provides services and products for the defense, aerospace electronics and healthcare industries. It plans to invest $5.7 million to purchase and renovate a 159,000-square-foot building, which is currently the home to Hutchinson Technology, Inc. Riverside is expanding to meet the needs of its growing customer demand.
The company received a $1 million loan from the Wisconsin Economic Development Corp. to facilitate the move. The loan is contingent on Riverside creating 20 new jobs over the next three years and retaining it's current 71 positions, according to the WEDC's statement.
"We're pleased this family-owned business has decided to stay and grow in western Wisconsin," said Gov. Scott Walker. "This is yet another sign of the continued strength of the manufacturing sector not just in that region, but throughout Wisconsin."
Riverside is expected to move into the new facility this summer.
Businesses expanding their manufacturing production to meet their customer's needs should work with manufacturing recruiters to fill their open positions with the most qualified candidates.