Today at the Joint Economic Development Organization (JEDO) board approved an incentive agreement to aid in the expansion of Topeka Foundry & Iron Works. One of Topeka’s oldest businesses, Topeka Foundry & Iron Works is a full-service machine shop, offering construction services, machining services, plus commercial doors and hardware.
Previously referred to as “Project Bond,” this expansion is expected to produce additional employment opportunities, up to 75 new full-time jobs, with an average yearly wage of $45,000, plus benefits. Capital investment includes building expansion, including an expansion of its Commercial Door division, and equipment updates and purchases of $5M. The total economic impact expected in the next 10 years is $208M. The performance-based incentive for this project is up to $433,500.
“Since being founded in 1876, the Topeka Foundry & Iron Works has been a strong part of the Topeka & Shawnee County community,” said Angela Ayala, controller at Topeka Foundry. “Our goal is to provide our employees with competitive wages, benefits, and opportunities for growth. The only way we can achieve that goal is to grow and be innovative and to invest back into our employees, equipment, and our buildings.”
“I am pleased to be a part of the exciting announcement and approval of this incentive agreement,” said Shawnee County Commissioner Kevin Cook, JEDO chair. “This announcement shows that even during these difficult times Shawnee County is economically resilient and that our companies will continue to grow.”
“Topeka Foundry & Iron Works is one of Topeka’s heritage companies and it is wonderful to get to witness them continue to grow and further develop within this community,” said Topeka Mayor Michelle De La Isla.
“This expansion adds a new chapter to an already storied history of one of Topeka’s oldest businesses. The advancements it will bring to our community in terms of economic development will be felt not only in District 1 but all of Topeka,” said Councilwoman Karen Hiller, Council District 1. “It’s also exciting to think about the potential opportunities this expansion could mean for students coming from local tech programs, such as those offered by Washburn Technical Institute, and the next generation entering this field.”
“GO Topeka is pleased to help Topeka Foundry & Iron Works continue to promote economic growth in the community as well as new technology and innovation,” said Molly Howey, president of GO Topeka, an organization of the Greater Topeka Partnership.