Department of Economic Development announces expansion of Lebanon manufacturer, expected creation of 15 new jobs

June 6, 2013

LEBANON – The Missouri Department of Economic Development (DED) announced today that a Lebanon manufacturer will be expanding its local operations. Marine Electrical Products’ expansion, a capital investment of $749,000, is expected to create 15 new jobs.
 
Founded in 1983, Marine Electrical Products began as a switch panels and electrical components manufacturer with only 10 employees. Since then, the company’s dedication to sustainability, innovation and efficiency have allowed Marine Electrical Products to grow to 225 employees. With an expanded workforce, Marine Electrical Products has also been able to expand its services. The company now develops and manufactures a variety of custom products to suit its clients’ needs. The company’s capabilities include various types of wiring harnesses, instrument panels and control consoles. Marine Electrical Products’ expansion project includes acquisition of a new building which will allow the company to further expand its products and services.

Marine Electrical Products’ expansion is just the latest victory in the Missouri manufacturing industry. Several Missouri manufacturers have recently announced significant expansions, including Yanfeng USA Automotive Trim Systems (263 new jobs, $45 million capital investment) in Riverside, Ranpak Corporation (25 new jobs, $2 million capital investment) in Kansas City and Meramec Electrical (47 new jobs, $5.7 million capital investment) in Cuba. With the 8th lowest corporate taxes, 8th lowest average commercial energy costs and the 9th best transportation network, Missouri provides a favorable climate for thriving businesses.

Some of Missouri’s resources and initiatives that have aided business expansions include the Certified Work Read Community Program, export assistance, customized job recruitment and screening, Certified Site designation, LocationOne site and building database, and others that can be found at www.ded.mo.gov.

To assist Marine Electrical Products with its expansion, the Department of Economic Development has authorized a strategic economic incentive package that the company can receive if it meets strict job creation and investment criteria.
 

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