The Joplin Globe, Joplin, MO

Joplin Metro

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May 30, 2009

FAG Bearings recipient of major investment



By Wally Kennedy

news@joplinglobe.com

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.

“This new forge capacity will put the plant in a strong position to attract other work in the future. To make these big rings, they needed a new forge to produce them. What this means is that this company has a bright future in terms of the company being a major employer in the area.”

The EEZ program was implemented in 2004. The zones are specified geographic areas designated by local governments and certified by the Department of Economic Development. Zone designation is based on demographic criteria, the potential to create sustainable jobs in a targeted industry and a demonstrated impact on local cluster development.

“For Missouri’s economy to get back on track, we must do everything we can to create good-paying jobs and encourage economic development,” said Linda Martinez, director of the DED.

“This program is another tool in our toolbox that we are using to play an active role in enhancing Joplin’s economic-development efforts.”

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