WireCo WorldGroup Inc. announced it is investing $15 million over the next five years to expand production capabilities in its Sedalia facility. The facility currently employs more than 160 individuals, and this expansion will result in the creation of 18 new jobs.
“We’re excited to see WireCo finding success and opportunities for growth here in Missouri,” Governor Mike Parson said. “This facility manufactures products that are essential to many industries and provides good-paying jobs to Missourians. We value partnerships like this one, and we appreciate WireCo’s continued dedication to our state as we keep moving Missouri forward.”
WireCo WorldGroup is a global leader in manufacturing, engineering, and distributing steel wire rope, synthetic rope, and electromechanical cable. These products are instrumental in the industrial and infrastructure end markets, crane and rigging, oil and gas, and mining industries. In addition to WireCo’s manufacturing facility and distribution center in Sedalia, WireCo WorldGroup has two other facilities in Missouri located in Chillicothe and Kirksville.
“This investment will better enable WireCo to respond to the quickly changing U.S. market,” said WireCo’s Chief Operating Officer – Global Steel, Scott Thompson. “We are grateful to Pettis County, Sedalia, and the State of Missouri for their support.”
“We are thrilled that WireCo has chosen to expand here in Pettis County and the Sedalia area,” said Rusty Kahrs, Board President of Economic Development Sedalia-Pettis County. “When many communities have seen tremendous disruption over the last year, Sedalia and Pettis County have stood strong in our support of existing businesses, which has driven continued growth. WireCo’s success in Pettis County is a testament to the talented and hard-working employees of the facility over the last 40 years.”
“WireCo has had a major impact on the Sedalia area, and I’m glad to see them continue to invest in the community,” Department of Economic Development Director Rob Dixon said. “WireCo, and businesses like it, continue to choose Missouri because of our focus on workforce development, infrastructure, and maintaining our pro-growth business climate.”
For this expansion, WireCo used the Missouri Works program, an incentive tool to help companies expand and retain workers by providing access to capital through withholdings or tax credits for job creation. The company is also receiving assistance from Missouri One Start, a division of the Department of Economic Development. Missouri One Start assists eligible businesses of all sizes with their recruitment and training needs.