The Sioux City Journal (Sioux City, Iowa, USA) reported on Oct. 29 that Quatro Composites (Orange City, Iowa) has broken ground on $11.8 million effort to add 45,000 ft2 to it's facility, effectively doubling the size of the plant and creating 99 jobs over the next three years. Construction is expected to start this fall and be completed in June.
Quatro specializes in designing and fabricating advanced composite structures for commercial aerospace, unmanned aerial vehicles and medical equipment manufacturers around the world.
The company’s recent growth has been driven by several contracts from aerospace suppliers to produce carbon composite structures for Boeing's 787 Dreamliner. The added manufacturing space also will allow Quatro to take on new business opportunities for other manufacturers, Quatro President and COO Steve Roesner told the newspaper.
The Iowa Economic Development Authority Board awarded the company a $750,000 forgivable loan, a $750,000 loan, and an estimated $313,313 in tax credits to help finance the project.