Riverside Machine plans relocation to Eau Claire
Posted: February 14, 2014
Riverside Machine & Engineering, 206 Cashman Dr., Chippewa Falls, announced this week that it will be moving to a 150,000-square-foot facility that was previously occupied by Hutchinson Technology Inc. (HTI) in Eau Claire. The company, which provides custom manufacturing services for the defense, electronics, medical and aerospace industries, is expected to purchase the building from HTI.
"We initially received a call from an economic development consultant who was working with Riverside and we explained our standard job credit policy and forgiveable loans with respect to job creation. We also received a call from the broker who is trying to sell the HTI buildings," said City of Eau Claire Economic Development Department Director Mike Schatz, who added, "About three weeks ago, we were approached directly by the president of Riverside who expressed the likelihood of moving to Eau Claire rather than potentially moving back to Minnesota. Their existing building was just too small to expand".
Riverside Machine & Engineering was acquired by Elk River,MN-based Metal Craft in 1996 to increase the overall machining and engineering capabilities of both companies. Riverside currently has 71 employees that will be relocating to Eau Claire. The company expects to create up to 33 jobs over the next five years, according to Schatz.
"It's a good company that pays good wages with good benefits. They will be purchasing the building that is the far west facility if you're looking from the North Crossing," he said.
The Eau Claire City Council this week approved a $33,000 forgiveable loan so long as the company creates the 33 jobs within five years.
"HTI will still own two facilities with approximately 600 employees. So they're still one of the largest manufacturers in the city," said Schatz. TBL