PowerRail, a producer and distributor of locomotive elements for the rail business, will create 35 new jobs when it expands its present Luzerne County operations, firm officers and Department of Community and Economic Development Acting Secretary Neil Weaver introduced Wednesday.
PowerRail is relocating from Duryea to the previous Pride Mobility Products Plant on Susquehanna Avenue in Exeter.
Pride Mobility Products founding and principal homeowners Stanley E. Meuser, Thomas E. Kretchik and Scott S. Meuser bought the practically 200,000-square-foot property at 182 Susquehanna Avenue to GOMX PA Realty LLC, PowerRail’s actual property holding firm, for $3.25 million, in accordance with a deed in Luzerne County Recorder of Deeds.
PowerRail has dedicated to investing no less than $5.4 million within the mission, creating 35 new jobs and retaining 76 present jobs over the subsequent three years.
The new facility in Exeter will home PowerRail’s consolidated operations and function its new headquarters. Over the subsequent a number of months, PowerRail will transfer its operations to the Exeter facility that’s greater than double the scale of its present company workplaces and distribution middle.
Paul Foster, PowerRail CEO and chairman of the board, began the corporate 19 years in the past as a distributor.
The firm acquired a funding proposal from the state Department of Community and Economic Development for a $1.75 million Pennsylvania Industrial Development Authority mortgage and a $105,000 Pennsylvania First grant.
The mission was coordinated by the Governor’s Action Team and NEPA Alliance assisted.