A Springfield-based manufacturer is expanding. Press Room Equipment or PRE, which makes press feeding and coil handling equipment, announced Wednesday it will invest $6.5 million and create 10 new jobs.
The company will move into a new 32,000-square-foot facility, being built at Partnership Industrial Center West on W. Division.
"This new facility will allow us to grow our workforce, creating new jobs and opportunities, enhance our technologies, building on the complementary strengths that has defined us, expand our produce offering to the stamping industry and explore new markets," said PRE President Gary Moore speaking at a groundbreaking Wednesday afternoon.
PRE was originally located in Rhode Island and moved its operations to Missouri in 1991. It’s been in the same building since. The new facility will be 60% larger.
For this expansion, PRE will benefit from the State’s Missouri Works program, a tool that helps companies expand and retain workers by providing access to capital through withholdings or tax credits for job creation.
"We know progress occurs through innovative solutions, collaboration and ongoing public/private partnerships," said Jonas Arjes, senior vice president for economic development at the Springfield Area Chamber of Commerce. "New investment, new businesses, new jobs are the spark that give life to our economic development work, and the accumulation of projects like this one bring enormous impact to the city of Springfield and the Ozarks region."
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