by Luke Jones
Posted 4/14/2014 12:00 am
Updated 6 months ago
Therma-Flite of Benicia, Calif., is planning for an expansion of its El Dorado facility that’s expected to cost up to $1.6 million.
The company manufactures waste-conversion machinery. It opened its El Dorado location in August 2012. According to Plant Manager Donald Lee, the city of El Dorado and Union County built the original facility and leased it to Therma-Flite as an incentive for the company with the stipulation that it create 50 jobs within five years.
It also received a $1 million loan from the Arkansas Economic Development Commission for equipment.
Lee said the facility employs 47 now and will meet its goal by May.
Preston Whitney, the company’s vice president of marketing, told Arkansas Business that the surrounding economy has allowed the company to expand.
“What has really happened here recently is the wastewater and oil and gas industries have dramatically increased our business,” he said.
In order to expand, Lee said, the company needed to own the property and so has received clearance from the city and county to buy it out at a price of $750,000.
The 28,000-SF expansion is scheduled to begin construction in April and will cost between $1.3 million and $1.6 million, Lee said. It will add offices to the company’s existing manufacturing facility, allowing it to add research and development jobs.
Whitney said the expansion will effectively double the facility’s size and “not too long after, we’ll be doubling our employees too.”
He said the company is growing revenue at a rate of 30 percent per year and had also recently opened offices in Dallas.