Clyde Machines Inc., a Glenwood company that designs and manufactures aircraft ground support equipment, is expanding production with a 35,000-square-foot building addition and 15 new jobs. The business said the new jobs will pay wages and benefits averaging $17 an hour.
To assist the company with the expansion, the Minnesota Department of Employment and Economic Development (DEED) approved a $200,000 low-interest loan from the agency’s Minnesota Investment Fund. The company plans to use the funding for the expanded facility and new equipment.
Governor Mark Dayton and state leaders committed $108 million in economic development funding in the 2013 legislative session, including $30 million for the Minnesota Investment Fund.
“Significantly increasing our investment in the Minnesota Investment Fund has helped dozens of businesses like Clyde Machines expand across our state, creating thousands of new jobs,” said Governor Dayton.
“Clyde Machines is a family-owned business that has built an international clientele over the past 50 years,” said DEED commissioner Katie Clark Sieben. “The company is a Minnesota success story, and we welcome the opportunity to help them to build on that success with new jobs and a bigger facility.”
Clyde Machines makes trailers, towbars, maintenance stands, crew and passenger stairs, baggage carts and other equipment for the airline industry.