The Gothenburg Improvement Corporation (GIC) has announced the signing of a Memorandum of Understanding with a local company to consolidate and expand their business in the Gothenburg Industrial Park.
Wearparts, a manufacturer and distributor of tillage tools will be improving the efficiencies of its operations by consolidating five existing locations into one 80,000-square-foot building. The manufacturing and distribution facility will be constructed on the first lot in the Gothenburg Industrial Park, located in the southeast portion of the city.
Wearparts has been looking at several locations to fit the needs of their growing business and the decision to locate the facility in Gothenburg is a result of collaboration and teamwork with the Gothenburg Improvement Company and others.
The company and GIC have been working for several months to bring the project together. The State of Nebraska Department of Economic Development has pledged incentives to offset land and building costs. The City is planning to use tax increment financing (TIF) to help the business pay for public improvements.
The expansion project will increase the size of their existing facilities and allow for the creation of more jobs along with a substantial financial investment in Gothenburg. It is projected that the facility will be operational in 2023. Mark Franzen, President of Wearparts said “We looked at several location options for our expansion, but after discussing our needs with the GIC, and after analyzing several factors, including our loyal team we are privileged to have with us, it made the most sense to invest and expand in Gothenburg. The GIC has worked hard on our behalf and have been very accommodating in helping us through this expansion process.”
Nate Wyatt, GIC President, said “Wearparts is an outstanding home-grown company that has incredible upward potential. They are a great fit for our community. This expansion will continue to provide good jobs and I know Wearparts will be a great employer and community partner for decades to come.
About Wearparts
Established in 2010, Wearparts Tillage Tools has grown into a top, industry-leading resource of expertise for tillage equipment. With offices in Gothenburg NE, San Antonio TX, and Valdosta GA, they are dedicated to assisting customers to meet the challenges and opportunities in the ag tillage world. They serve customers in the lower 48 states. Additional information is available at www.wearpartsllc.com.