03/18/2008

USA - Wind-power factory to open in Oelwein

161,000-square-foot facility will become the headquarters and production facility for Sector 5 Technologies

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.

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