NEW ULM - SpecSys, Inc., a contract engineering and manufacturing company, is planning to set up business in New Ulm with the purchase of the former Caterpillar building by the end of June.
SpecSys has signed a purchase agreement on the for the site and completed negotiations with Caterpillar, Inc. If the final purchase is completed, Caterpillar, Inc. will no longer have any property or land in New Ulm.
Caterpillar in New Ulm employed 50 area residents when it closed at the end of 2006. The building has been vacant since that time. Several potential businesses looked at the facility, but none made any concrete efforts towards purchasing it.
New Ulm Retail Development Corporation President Brian Tohal said it is thrilled that SpecSys is interested in setting up shop in New Ulm. Negotiating with the company has been ongoing since 2007. The business grew enough this year to consider the New Ulm site.
SpecSys is headquartered in Montevideo. It has facilities in Granite Falls, Benson and Redwood Falls. It specializes in building custom machines for other businesses as well as other custom products. It currently employs 150 people throughout its operations.
Tohal said SpecSys is expected to bring in five to 12 jobs at its opening and more jobs as it grows. SpecSys will hold a jobs fair for Thursday, June 28 from 3 to 7 p.m. on the second floor of the New Ulm Chamber of Commerce building. The jobs fair will be targeting engineers, designers, machinists, welders and assemblers.
Tohal said New Ulm Retail and Development is currently working with SpecSys to target city and state business incentives, including the Minnesota Investment Fund, JOBZ and the local Revolving Loan Fund.
(Josh Moniz can be e-mailed at email@example.com)