As a precision machine shop, Archer will produce industrial valves for use on submarines and aircraft carriers. The valves also serve as vital components for power plants and waste water systems.
DECD has spent the last several months working with Archer as the company prepared for this exciting opportunity. Governor's Account Executive, Kristine Schuman helped Archer identify the most beneficial incentive programs and make the necessary connections to facilitate the purchase of upgraded equipment.
"As a new small business owner that is just starting out, getting access to tax incentives in a timely manner is huge," said Archer Machine President, Michael Hanes.
Hanes says he is planning to hire five people immediately, all with average salaries of almost $40,000. His goal over the next three to five years is to triple that number as work and demand for orders picks up. "I could have started this business anywhere in the country but Maine is where I want to be and where I believe the best quality workers are," added Hanes.
"Advances in manufacturing technology have created tremendous career opportunities," said DECD Commissioner, George Gervais. "The challenge continues to be bridging that gap between what businesses need and what they have available to them in terms of a workforce," continued Gervais.
Initial investments planned by Archer are estimated at around $600,000, which include improvements to 482 Sokokis Avenue in Limington, the former home of Metal Works Inc.
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