PEOSTA, Iowa, (AP) — Bodine Electric Co. wants to nearly triple the size of its Peosta manufacturing plant and add scores of jobs to northeast Iowa, a company executive said.
Under the plan, the Chicago-based motor manufacturer would relocate a majority of its production from its headquarters to Peosta. The $3 million project would add 105 jobs to the Iowa facility, which now has a work force of about 160.
''We'd like to potentially be hiring new (employees) in the March or April time period,'' said Jeff Bodine, executive vice president of the family-owned firm.
''Our goal, if we move forward, is to complete the project by 2008, and hopefully all hires.''
The state awarded Bodine $500,000 for the project on Thursday. The jobs would pay an average starting wage of more than $15 per hour.
Construction of an addition will begin in November, which will triple the size of Bodine's existing facility.
The Peosta City Council approved a resolution this week to support the plan.
''I think it's just a wonderful thing in the kind of times where jobs are leaving the country and going overseas, and right here we've got (jobs) coming to little old northeast Iowa,'' said Peosta Mayor Jim Weydert.
Bodine Electric manufactures motors and gearmotors sold worldwide.