9/8/21 —ย Eastern Wire Products, Inc., has bought property in Jacksonville, Florida, and plans to invest $1.5 million in renovating it to produce steel wire and other products.
The company, founded in 1972, has operated elsewhere in the city in a leased multitenant building, and it is buying a 78,000-sq-ft structure that needs to be upgraded. Of that space, some 21,000 sq ft is leased to another company, and the goal is to use that space as well until the lease either expires or is terminated.
Eastern Wire Products specializes in baling wire as well as straight-and-cut wire. The family-owned company has 42 full-time employees, and expects that the expansion will eventually result in another 10 jobs.
The total project is expected to cost about $4.4 million, which includes about $3 million for the site acquisition and demolition, $500,000 for infrastructure improvements; $650,000 in building renovations; and $240,000 in machinery and equipment purchases.
โThis is a tremendous opportunity to establish a home for our third-generation, wire fabrication company,โ said company President Mark Yates. โMy father and grandfather were both WAI lifetime members, and this is the culmination of their longtime desire to create a space for us to fabricate our products for generations to come.โ
Yates said that, with the aid of grants from the city of Jacksonville, Eastern Wire will be able to create a modern facility that includes state of the art bale tie manufacturing equipment. โThis should enable us to be more efficient and effective and allow us to better serve our customers.โย
