FAG Bearings Recipient of Major Investment
Resource from: CBCC Likes:2942
Jun 01,2009
The push to promote wind energy is generating new jobs and a major investment at the FAG Bearings manufacturing plant at 3900 S. Range Line Road.
In the works and under wraps for two years, the project by parent company Schaeffler Group USA is expected to create 71 new manufacturing jobs over five years and invest $39.3 million in production improvements at the FAG plant.
The company recently received approval for $978,983 in Enhanced Enterprise Zone (EEZ) tax credits from the Missouri Department of Economic Development in connection with the creation of the new jobs and the investment.
The company is planning to manufacture large ring bearings for use in wind-energy applications.
Greg Tinnell, vice president of human resources for the company’s North American division, stated in e-mail correspondence that the plant is getting new machinery and equipment to produce larger-sized bearings.
He said there already has been a slight increase in employment at the plant for the large bearings, but that gain has been offset by a decrease related to the plant’s automotive sector.
He said FAG has “several current and possibly future customers for larger-sized bearings, particularly in wind-energy applications.”
About the tax credits, he said, “While the incentives are important, they will offset just a small portion of the overall cost of the project.”
Rob O’Brian, director of the Joplin Area Chamber of Commerce, said talks to bring the jobs and manufacturing equipment to Joplin began two years ago.
“We were told the company had the potential to win these wind-energy contracts. That led to a global look by Schaeffler to determine where this work should go, and they chose Joplin,” he said.
O’Brian said the new bearings will be 40 inches in size and will be used in the gear boxes of wind-powered generators.
“They are much larger than anything this plant has ever produced,” he said. “One of the best things about this, in addition to the new investment and job creation, is that they are replacing the forge out there.
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