03/18/2008
USA - Wind-power factory to open in Oelwein
A start-up company was awarded state incentives Thursday to open a factory for the production of wind turbine components in Oelwein.
The company, Sector 5 Technologies Inc., plans to buy the former Donaldson factory that made metal air cleaners until closing in May of 1999. The 161,000-square-foot facility will become the headquarters and production facility for Sector 5. An incentive agreement approved Thursday by the Iowa Department of Economic Development Board indicates Sector 5 will create 99 jobs and invest $3 million. The jobs will pay an average of $23.89 per hour.
The state awarded $297,000 from the Community Economic Betterment Account program to Sector 5. The company also will be eligible for benefits under the state's Enterprise Zone program.
Sector 5 was founded by Dale Feauto, former president of Modern Engineering & Piping in Cedar Rapids. The company's long term plans are to diversify into components for the biofuels, food and pharmaceuticals industry, according to the Iowa Department of Economic Development.
The company, Sector 5 Technologies Inc., plans to buy the former Donaldson factory that made metal air cleaners until closing in May of 1999. The 161,000-square-foot facility will become the headquarters and production facility for Sector 5. An incentive agreement approved Thursday by the Iowa Department of Economic Development Board indicates Sector 5 will create 99 jobs and invest $3 million. The jobs will pay an average of $23.89 per hour.
The state awarded $297,000 from the Community Economic Betterment Account program to Sector 5. The company also will be eligible for benefits under the state's Enterprise Zone program.
Sector 5 was founded by Dale Feauto, former president of Modern Engineering & Piping in Cedar Rapids. The company's long term plans are to diversify into components for the biofuels, food and pharmaceuticals industry, according to the Iowa Department of Economic Development.
- Source:
- Sector 5 Technologies Inc.
- Author:
- Edited by Trevor Sievert, Online Editorial Journalist / Author: Sector 5 Staff
- Email:
- press@windfair.net
- Link:
- www.windfair.net/...
- Keywords:
- wind energy, renewable energy, wind turbine, wind power, wind farm, rotorblade, onshore, offshore
