Strategic investments made to build on company’s unprecedented growth
Generac Power Systems Inc., a manufacturer of backup power generation equipment, announced it will commit $5 million to $6 million to expanding and remodeling its headquarters and an additional $3 million to $4 million in upgrades to create a technical center. The $8 million to $10 million total investment will result in more jobs, more innovation and more technology.
“The expansion of our headquarters isn’t just a major investment in our community, it is a major step in meeting the power generation and equipment demands of our customers,” Generac CEO Aaron Jagdfeld said. “We have been growing rapidly over the last decade and this expansion will give us the flexibility and space to not only add to our team, but will create a space to allow the best engineers and technicians in our field to innovate and develop tomorrow’s technology for our industry.”
Generac currently employs more than 550 people at its headquarters and plans to add more than 200 new jobs over the next three years. The expansion and remodel, funded solely by organic growth, should be completed by the end of 2013. Looking beyond 2013, Generac has already purchased land adjacent to its Waukesha, Wis., headquarters in preparation for future expansion.
The company’s location in western Waukesha county has been its headquarters since it was constructed in 1967 and has been expanded nine times during its history. The current project will convert approximately 27,500 sq ft of manufacturing space into office space and will add approximately 3,300 sq ft for a new main entryway that will include an area detailing the history of the company and its products. The renovation and remodel will create a more modern and collaborative workplace and will provide both new office and meeting space to the existing building.
The new technical center will allow Generac to build on its position as the innovation leader in the power generation industry. The technical center will be a state of the art research, development and testing facility and will include investments in equipment for data acquisition, analysis and testing of engines, generators and other power equipment. Specifically, new test chambers containing highly specialized equipment for the testing of emissions, sound, and environmentally controlled conditions will enable Generac’s engineering team to enhance its knowledge and competencies in these areas.