Galley Support Innovations Inc. of Sherwood announced Thursday that it completed a 3,800-SF expansion and plans to add another 21,000-SF on property adjacent to its Manson Road headquarters.
The additional expansion will house manufacturing and office space and enable it to accomodate several new multi-year, multi-million dollar contracts. GSI makes interior hardware — locks, latches, retainers, lavatories, hinges and other door parts — for planes, trains and yachts.
GSI is using a Community Develop Block Grant of $120,000 from the state to fund the expansion. It plans to hire up to 25 new employees in the next three to five years.
"This expansion for GSI will help our economy and grow good paying jobs for hardworking Arkansans," said Lt. Gov. Tim Griffin in a statement. "Companies like GSI are vital to the aerospace industry here in Arkansas, and I am proud to support the expansion of this family-owned and operated business. I applaud the Arkansas Economic Development Commission for their efforts to help make this expansion a reality."
Most of the new contracts announced Thursday are for interior hardware for luxury aircraft for a major manufacturer which GSI couldn't reveal just yet. Details of the new contracts and renewals announced Thursday are as follows:
- Design and manufacture interior hardware a $25 million mid-sized jet. The multi-year contract is expected to result in revenue of more than $1 million annually for GSI.
- Design and manufacture interior hardware for a $65 million jet. GSI won the six-year contract after three years of development. GSI will develop more than 60 custom-made latches for each of the aircraft produced annually. The contract is expected to result in annual revenue of more than $1.2 million.
- Multi-year contracts to supply interior hardware for an elite series jets. Estimated annual revenue: more than $1 million.
- Design and manufacture interior hardware for the newest series of jets for the same manufacturer.
- Design and manufacture the interior hardware for the first-ever private Boeing 747-8 for Greenpoint Technologies. GSI also will supply custom hardware for the private Boeing 787 Dreamliner.
- Contract renewals included those for Jamco America and Boeing galleys. GSI expects both contracts to bring in more than $250,000 annually.
GSI co-owner and CEO Gina Radke said the company considered moving its operations to Florida and Texas, but the state enticed it to stay. Staying in Arkansas was the company's preference, she said. Radke and her husband Wade purchased it in 2005 and moved it to Sherwood from southern California.
Griffin, who spoke at Tuesday's expansion ceremony, said GSI represents an Arkansas story that needs to be told.
"We've got to tell more people about the aerospace industry in Arkansas," he said.
Griffin revealed that he had joined the Aerospace States Association, a group of lieutenant governors who act as ambassadors for the aerospace industry.
Chad Causey, executive director of the Arkansas Aerospace & Defense Alliance, commended GSI's expansion and its efforts in contributing to the growth of the industry in Arkansas.
"I imagine it won't be too many years until we're back here announcing another expansion," he said.
GSI received an Arkansas Business of the Year award in February.