Altec Adding 100 Jobs in Duluth Location
Company Investing in $8.45 Million in Duluth Sites
DULUTH, Minn. –Altec Incorporated in Duluth is adding 100 jobs at its manufacturing facilities as they invest $8.45 million in an expansion there.
Altec, which makes aerial lift trucks, is planning on purchasing new equipment and making other upgrades to its Northland operations. About 230 people are currently employed at their sites.
“It’s very exciting to me to add to our team here and to create those opportunities, to create a better workplace for our associates here,” said Dave Faynik, the general manager for the Duluth location. “It’s all going to come together to support our customers better, so we’re very excited about it.”
The Minnesota Department of Employment and Economic Development is supporting the project with a $550,000 forgivable loan, through the Minnesota Investment Fund.
“The Minnesota Investment Fund is one of the state’s most successful economic development tools,” said DEED Commissioner Shawntera Hardy. “Since the fund was created in 1985, Minnesota companies like Altec have created thousands of jobs and invested millions of dollars in expansion projects.”
The Duluth Seaway Port Authority, which owns the building where Altec is located, is also adding another $3.5 million for upgrades for the building.
Altec corporate operations are headquartered in Birmingham, Ala.