Arts Way Manufacturing, an Armstrong, Iowa-based manufacturer and distributor of specialized agricultural equipment, announced that it has acquired a 190,000-square-foot facility in West Union, Iowa, for expansion.
Arts Way paid $1.27 million for the building. A grant and loan of $65,000 from the Iowa Economic Development Board will help offset expenses associated with building repairs and machinery and equipment, according to the company.
Arts Way said it is working with the Iowa Finance Authority to obtain long-term financing of the facility with industrial development bonds. Arts Way also is eligible to receive $158,000 for job training.
Our plans for this facility will be a combination of production of our ag lines and warehouse for finished products, said J. Ward McConnell Jr., executive chairman of the board. We first intend to start shipping over some of our finished goods for distribution and then move over production lines of our forage boxes and hay rakes. The addition of this facility will allow us to gain valuable production space and will certainly allow us to accommodate any future acquisition.
McConnell said the factory and warehouse expansion will create approximately 45 new jobs.