The Sherman Economic Development Corp. recently fulfilled an incentive agreement with Washington Iron Works that saw the local machine services company more than double its workforce.
SEDCO board chairman Greg Kirkpatrick hand delivered the final $10,000 incentive check to Washington Iron Works Plant Manager Cory Tate and engineer Matt Meyers. The $85,000 incentive agreement was approved by the SEDCO board in August 2015 and saw the company receive previous checks for $55,000 and $20,000 while it worked to integrate the operations of the PROS Co., who acquired Washington Iron Works in 2015, into its local operations.
Meyers said SEDCO’s assistance has allowed Washington Iron Works to nearly triple its workforce since the incentive agreement was signed, noting the company had 12-13 employees at that point and it currently around 32 workers.
“The support of SEDCO has been great and the support of the community, as well as the support in finding employees to bring in to fill the skill positions that we need as we are able to create jobs,” Meyers said.
SEDCO President John Plotnik said working with existing companies in the city is a big part of the corporation’s activities.
“Economic development isn’t just bringing new companies into our community, but it’s also working with our existing companies to expand and create more investments and jobs,” Plotnik said. “Our existing companies actually create as much, if not more, volume to the community’s future than new companies coming in. There is just an absolute paradigm that we continue taking care of existing companies to help them expand.”
Meyers said Washington Iron Works’ relationship with SEDCO will continue and the company may consider working with the economic development corporation on another incentive agreement in the future.