INDUSTRY NEWS
Pace Announces Minnesota Expansion industries.
Pace Industries, Fayetteville, Ar-
kansas, announced plans for a $6.3 million expansion of its Maple Lake, Minnesota, diecasting facility. Pace will add 60,000 sq. ft. and
adjust an existing structure, which will result in 20 new jobs. According to a news release, the Minnesota Department of Employ- ment and Economic Development (DEED) is supporting the project with a $167,969 grant from the Job Creation Fund. Tat money will go to Pace once it meets its “hiring and investment commitments.” “Pace Industries has a strong
reputation for producing innovative and quality products,” said Shawn- tera Hardy, Commissioner, DEED. “We thank the company for its commitment to Minnesota and for bringing new jobs to Maple Lake.” Pace acquired Maple Lake’s
Product Technologies in 2000, renaming it its product tech divi- sion. Te Maple Lake operation has vertical and horizontal mach- ing centers and nine hot chamber diecasting machines. It specializes in diecasting medical devices and parts for the recreation vehicle, power and hand tool, and telecommunications
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Te Job Creation Fund provides funding to businesses after they meet certain benchmarks for creation of employment opportunities and invest- ments. According to a news release, busi-
nesses must create at least 10 full-time jobs and invest at least $500,000 to be eligible for financial assistance. Pace also has another Minnesota
facility in Arden Hills that produces aluminum die castings for cosmetic and difficult-to-fill parts.
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June 2016 MODERN CASTING | 11
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