Article Body
Governor’s Office of Economic Development
711 E. Wells Ave.
Pierre, SD 57501
(605) 773-3301
FOR IMMEDIATE RELEASE: October 25, 2005
CONTACT: Mary Lehecka Nelson, 773-3301
South Dakota Attracts Iowa-Based Company
Masaba Mining Equipment to Create 60 Jobs in Southeastern South Dakota
PIERRE, S.D. – Masaba Mining Equipment is taking advantage of South Dakota’s affordable, business-friendly environment and skilled workforce by moving its entire Iowa based operation to Vermillion, S.D. The company, producers of mining and custom equipment, plans to create 60 jobs for southeastern South Dakota throughout the next three years. Governor Mike Rounds will visit the new manufacturing facility Thursday, October 27, for the company’s ribbon cutting ceremony.
“Masaba Mining Equipment is truly the kind of company every state would love to have,” said Gov. Rounds. “This project represents a $4 million capital investment. Masaba President Jared Higman represents the entrepreneurial spirit that is thriving throughout South Dakota. Young entrepreneurs like Jared are recognizing what a great place South Dakota is to live and do business.”
Masaba Mining Equipment offers a complete line of aggregate processing equipment and is known throughout the industry for its high quality of mining and custom equipment. The family owned company represents three generations of aggregate processing knowledge and experience blended with cutting edge technology.
Through $1,250,000 of support from the state’s Revolving Economic Development and Initiative (REDI) Fund, Masaba Mining Equipment will create opportunities for the Vermillion community to diversify the local economy, increase capital investment and create quality jobs.
“We are honored to have Governor Rounds come to Vermillion to tour our new manufacturing facility,” said Higman. “Both state and local economic development teams were instrumental in our decision to move from Iowa to South Dakota. We have already increased our workforce by more than 40 percent and this is a great opportunity for Masaba to showcase what good economic policies can do for the state of South Dakota and the city of Vermillion. We truly appreciate everyone’s efforts during this process and look forward to continued growth and success in South Dakota.”
Vermillion Mayor Dan Christopherson is excited about the industrial development in the city. "We heartily welcome Masaba to Vermillion and look forward to supporting and working with Masaba by providing low cost and reliable services, a skilled labor force, and an exceptional quality of life," said Mayor Christopherson.
-30-