Troutman-based CNC machinery manufacturer C.R. Onsrud, Inc. announced today it will be investing $5.5 million over three years in a major expansion project at its facility in Troutman, North Carolina, where the company has been located since its founding in 1915.
The project will include a 30,000 square foot expansion of the company’s current building at 120 Technology Drive and the addition of new capital equipment and fixtures throughout the facility.
The project is scheduled to begin in the first quarter of 2012, with building construction finished by mid-year and the new equipment in place and operational by the first quarter of 2013. As the result of the physical expansion, the company plans to add 30 new jobs over a three year period, including 10 by the end of 2012. The new jobs will be advanced manufacturing, electrical, mechanical and engineering positions with an average salary in excess of $45,000.
Onsrud specializes in high quality CNC machinery designed for the aerospace, woodworking, plastics, and composites industries. The expansion is being undertaken to increase production capacity to meet unprecedented demand for the company’s products, and to increase vertical integration of the company’s manufacturing processes in order to remain globally competitive.
According to Troutman Mayor Elbert Richardson, ”It is great to see a local business achieve such success in the marketplace. This is the second major industrial expansion announced in Troutman since the first of the year and we are pleased to be the kind of place where companies want to and are able to grow.”
“I want to congratulate the C.R. Onsrud Company for their success. It is thrilling to see a local company doing so well,” commented Iredell County Commissioners Chairman Steve Johnson. “The best way to achieve job creation is to support the efforts of the companies who are the innovators and job creators. I want to thank them for making this significant investment in Iredell County.”
Dr. Steven Binder, Chairman of Statesville Regional Development, noted, “I have known the Onsrud family for the entire 31 years I have lived in this region and have witnessed their ingenious ability to broaden their market from its original inverted router business nationally to its present inclusion of the CNC business globally. Nothing pleases me more than to see a local family industry succeed and remain committed to competing globally from right here in our own backyard. Much congratulations to the Onsrud family and organization for their continued success.”
Statesville Regional Development would like to recognize the following partners in this significant announcement for our community: the Town of Troutman, Iredell County, the NC Department of Commerce, Duke Energy, the NC Community College System, P.S. West Construction and the Greater Statesville Area Committee of 100.
