G.S. Precision celebrates the completion of a $17 million expansion
BRATTLEBORO – Governor Phil Scott, representatives from U.S. Senators Patrick Leahy and Bernie Sanders, U.S. Congressman Peter Welch, and local officials joined Norm Schneeberger, President and CEO of G.S. Precision, to celebrate the completion of a $17 million expansion that is bringing up to 100 new jobs to Brattleboro in the next few years. The event concludes pre-development and construction at two GSP facilities, over twenty-two months of work by G.S. Precision, Brattleboro Development Credit Corporation, the Agency of Commerce and Community Development, the Vermont Economic Development Authority (VEDA), and the Town of Brattleboro to ensure that the company expanded its business in Brattleboro and not elsewhere.
The event took place at 101 John Seitz Drive at the Exit One Industrial Park which is a part of the G.S. Precision expansion. The project was needed to accommodate the company’s expansion of operations, purchase new equipment and add 100 new employees.
Brattleboro Development Credit Corporation Executive Director Adam Grinold said that the BDCC provided leadership in efforts to identify and assemble a number of appropriate federal, state and local supports to accommodate the G.S. Precision expansion in Vermont. Noting that, “just as critical as us providing the development services necessary for this project, is our ongoing regional employer workforce support. Access to workforce is a critical need for virtually all area employers and a top priority for the BDCC in our business support services.
“This project has been a team effort across administrations to combine federal, state, and local resources to retain and create great jobs in Windham County,” said Governor Scott. “It exemplifies the type of public-private partnership that will help ensure Windham County’s economic future, especially as the region feels the economic impact of Vermont Yankee jobs leaving the area. The G.S. Precision expansion also demonstrates that Vermont is indeed open for business, offering competitive financing to quality employers with excellent growth prospects as we work to grow our economy and create more opportunity for Vermonters.”
“GS Precision’s expansion is a success story for Windham County and all of Vermont. It sends a strong message to existing Vermont employers looking to grow, and those from elsewhere considering locating here, that this is a place where all levels of government will work with you to achieve your goals,” said U.S. Senator Patrick Leahy.
The total combined investment in the expansion project is approximately $17,000,000. A number of private and public financing tools were utilized including TD Bank and VEDA financing, CDBG, New Market Tax Credits, and Windham County Economic Development Funding, and Vermont Employment Growth Incentives. ” We are pleased to have developed the expertise at the BDCC necessary to engineer, assemble and managed the complex financial structure necesarry to bring this project to completion,” said BDCC Director of Finance & Grant Management Bobbi Kilburn.
G.S. Precision manufactures high-precision machined components and assemblies for commercial and military aircraft engines, power generation turbines, defense systems, thermal imaging devices and other commercial industries. The company is starting its 60th year of doing business in Southern Vermont. G.S. Precision’s corporate headquarters are in Brattleboro, but they also have manufacturing facilities in New Hampshire, Mexico and California. Growth opportunities, primarily in the Aircraft Engine and Power Generation Turbine markets had G.S. Precision considering the possibility of an expansion out of state.
“This expansion in Brattleboro has been implemented just in time to meet significantly increased demand for our products. The GSP workforce has been expanded substantially since the project began, and we expect continued growth and opportunities for our employees as we look ahead.” said G.S. Precision President and CEO Norm Schneeberger. “The combined efforts of Senator Leahy, Governors Scott and Shumlin, Pat Moulton, former Secretary for the Agency of Commerce and Community Development, Adam Grinold and the BDCC, the Town of Brattleboro and many other individuals helped to make this investment possible here in Brattleboro. On behalf of all GSP employees, I offer our sincere appreciation.”
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About G.S. Precision:
G.S. Precision is a leader in the manufacturing of high-precision machined
components and sub-assemblies for the aircraft engine, aerospace, medical, fiber-optic, automotive, specialty bearing, and other commercial industries. With an experienced team of more than 300 employees, they are experts in machining a diversity of materials; from nickel-based aircraft alloys and titanium to stainless steels and aluminum. Beyond their ISO 9001:2000 and AS 9100 certifications, G.S. Precision has a reputation for outstanding quality and value in the industry, and for a willingness to tackle the most challenging jobs.
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About BDCC and SeVEDS:
The Brattleboro Development Credit Corporation is a private, nonprofit economic development organization that serves as a catalyst for industrial and commercial growth throughout Southeastern Vermont, including Windham County and the towns of Readsboro, Searsburg, and Weston. BDCC serves as the State of Vermont’s certified Regional Development Corporation (RDC) for the greater Windham County area. BDCC is one of 12 RDCs throughout Vermont.
For more information visit: https://brattleborodevelopment.com/
Southeastern Vermont Economic Development Strategies (SeVEDS) is an affiliate of BDCC that grew from a 2008 grassroots effort, initiated by BDCC, to reverse the economic decline of the Windham Region and plan for the economic impacts from the closure of the Vermont Yankee nuclear power plant. In 2014, after multiple years of regional input, education and data gathering, SeVEDS submitted the Windham Region’s federally recognized S.M.A.R.T. Comprehensive Economic Development Strategy for federal approval. For more information visit: www.seveds.com
