Steel services firm The Systems Group of El Dorado on Monday announced the expansion of its main fabrication and machine shop.
The company plans to purchase 47 acres of land and hire 60 new workers to increase production of its patented Spray-Cooled equipment, which offers an alternative to pressurized water-cooling.
Work on the expansion is already underway, the company said in a news release. It comes amid wider growth in Arkansas' steel industry, highlighted by construction of a $3 billion U.S. Steel mill in Osceola.
Lee Morgan, president and owner of The Systems Group, said industry growth has led to more orders for Spray-Cooled equipment, industrial air cleaners, and maintenance and construction services.
"This is an exciting time in the steel industry," Lee Morgan, president and owner of Systems, said in the release. "America is going through a resurgence of bringing manufacturing jobs back to the USA, and our business is benefiting from that."
Systems Group qualified for the following state incentives: the Advantage Arkansas Program, which provides state income tax credit for job creation based on the number of new employees hired as a result of the project, and the Tax Back Program, which provides sales tax refunds on building materials, taxable machinery, and equipment associated with the project.
"The Systems Group is a great example of why we need to invest more in our skilled workforce," Secretary of Commerce Mike Preston said. "The new jobs being created in El Dorado are for welders, fitters, and fabricators – jobs that are in high demand throughout the state that can lead to lifelong career opportunities. We look forward to working with The Systems Group as they continue to grow."