Producer of High Performance Trailers is Expanding

Schutt Industries, a producer of high-performance military and heavy duty commercial trailers and components, is expanding with the help of a loan from the Wisconsin Department of Commerce. The company will receive a $250,000 Community Development Block Grant – Economic Development Loan to assist with the purchase of new equipment and a plant expansion. The total investment for the project is over $2 million and will include the creation of 65 new jobs and 20,000 square feet of new manufacturing space.

In order to comply with two recently secured military contracts that could be worth up to $100 million, the company will need approximately 20,000 square feet of additional manufacturing space. The project will create 65 jobs, which will more than double its current work force of 33 employees, and represents a total capital investment of over $2 million.

Schutt Industries, which produces high performance military and heavy-duty commercial trailers and trailer components, was founded in 1998.

"Being a military contractor, the funding that Commerce is providing us is used for state-of-the-art equipment to help accomplish our mission of providing more modern, technically-advanced, high-quality products to our armed forces to enhance their mobility and keep them out of harms' way," said Jim Schutt, president of Schutt Industries.

The CDBG-ED program awards loans to businesses that seek to expand in or relocate to Wisconsin. Businesses interested in the CDBG-ED program should contact the Commerce Area Development Manager in their region.

Source: Expansion Management, May 25, 2006