An Iowa Park Manufacturing Company that has been operating out of the old Wal-Mart Building has decided to stay and purchase the place, rather than building a new facility.
S-5 Manufacturing Company builds aluminum widgets like H-V-A-C units or antennas on metal roofs without compromising the roof's integrity.
It will be the first company to take over the whole property since Wal-Mart pulled out of Iowa park over ten years ago.
This city purchased the building for $200,000 in 2009 and sold it to S-5 for $575,000, securing at least 15 jobs in the city.
"The days of hitting the homeruns with two or three hundred employess are less common and when you can secure companies that are hiring 15,20 or 30 employees, it's a good day." Said Iowa Park Director os Economic Development David Owen.
Owen says S-5 was initially going to build a large building in the city's industrial park but due to the struggling economy, they've decided against that.
"Now that they're purchasing the building, we will not have a place to put the next person, the next company while they're waiting to build or purchase their new building. It's a bittersweet sale of the building but at the end of the day, the jobs will remain in Iowa Park and that's what we're most interested in." Said Owen.
Jobs that S-5 employees are already putting to good use.
"It worked out fine just to be in this building. We're able to do what we need to do, there's plenty of room to grow. It worked out great." Said S-5 Plant Manager Brent Battisa.
A successful business venture that has Owen looking forward to the rest of 2013.
"We're excited about the future of Iowa Park. It's time for the next project." Said Owen.
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