Hoeven: Caterpillar Expansion In West Fargo Continues North Dakota Job Growth
As a Major Exporter, Company Will Be Aided by Trade Agreements
WEST FARGO, N.D. – Senator John Hoeven today helped break ground on a $50 million expansion of Caterpillar Inc.’s West Fargo facility, calling the project a continued expansion of North Dakota’s job growth. The expanded facility will boost Caterpillar’s remanufacturing operations and is expected to create 250 new jobs over a three-year period, nearly doubling the factory’s workforce to 550.
“Caterpillar’s expansion is a prime example of the economic development that comes with a legal, tax and regulatory environment that encourages innovation and growth,” said Hoeven. “In North Dakota, we’ve worked hard for more than a decade to create a pro-business climate for our companies like Caterpillar, and we’re working now to do the same on a national level.”
A strong supporter of pro-business economic policies, Hoeven has been pushing legislation in the U.S. Senate to provide regulatory certainty and to forge a legal, tax and regulatory climate that enables American business to thrive. Also, earlier this year, Hoeven traveled to India and South Korea to promote economic development and trade opportunities for North Dakota companies. He has been working to get the U.S.-Korean, Panama and Colombian Trade Agreements to the Senate floor for ratification. That is likely to happen in September. Caterpillar will benefit significantly from these trade agreements as a major American exporter.
Caterpillar’s new facility is expected to increase the Illinois-based company’s production of new and remanufactured parts to help meet demands for mining equipment and large off-highway truck parts. Construction on the 225,000-square-foot-facility is expected to be completed by June 2012.
Caterpillar purchased its West Fargo remanufacturing plant in 2008 from Gremada Industries, which Greg, Matthew and David Butler established in 1962. The Butlers expanded Gremada Industries’ workforce to 200 people with the help of Bank of North Dakota-backed business loans and North Dakota Job Service workforce training assistance.
Since 2000, North Dakota’s economy has created 47,900 net new jobs; increased average wages by more than $11,000; increased personal income by more than $15,000; grown the gross domestic product by 74 percent; grown exports by 303 percent; and grown the population by more than 30,000.
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