Woodward’s $200 million Loves Park expansion to bring 660 jobs, double workforce by 2021
Posted By Brandon Reid On August 23, 2012 @ 2:11 pm In Happening Now, Local News | No Comments
Online Staff Report
LOVES PARK, Ill. — A Rockford original, aerospace company Woodward, Inc., announced Aug. 23 its Loves Park plant has been chosen as the home of the company’s new manufacturing campus.
The plant, at 5001 N. Second St., was chosen over Woodward plants in South Carolina and Wisconsin for a $200 million manufacturing campus that is expected to create 660 jobs within the next five years and double Woodward’s area workforce by 2021.
Woodward currently employs about 1,500 at the Loves Park plant and at a leased office space in Rockton.
The new manufacturing campus will be between Forest Hills and Perryville roads north of Harlem Road. The 60-acre campus will include a 300,000-square-foot production plant and office center. Construction of the campus is expected to begin in late 2013.
The 158,249-square-foot Loves Park plant was built in the 1940s and has not added to its manufacturing space since 1987.
Woodward brass made the announcement at the Loves Park facility Aug. 23 with Illinois Gov. Pat Quinn (D) in attendance. Woodward CEO Tom Gendron is a Rockford native who graduated from Rockford Guilford High School and earned his master’s in business administration from Rockford College.
Woodward, Inc., was founded in Rockford in 1870 and has its headquarters in Colorado. The company produces and services energy control and optimization systems primarily for aircraft. It is a supplier to such companies as General Electric, Boeing and United Technologies.
Woodward’s sales have increased from $1.43 billion in 2009 to $1.71 billion in 2011.
Posted Aug. 23, 2012
Article printed from The Rock River Times: http://rockrivertimes.com
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