kLEIN TOOLS IS MOVING TO MANSFIELD AND WILL BE HIRING 585 EMPLOYEES. IF YOU ARE LOOKING FOR A JOB OR A CAREER CHANGE YOU MIGHT WANT TO CHECK IT OUT . HERE IS THE ARTICLE:
Mansfield has a new player on the economic team.
On Monday night, the City Council voted 6-0 to approve a deal with major American hand tool manufacturer Klein Tools to bring its new Advanced Manufacturing Technology Center to Mansfield. Council member James Rudnicki was absent.
“This is a major player,” said Mansfield Mayor David Cook. “This will have a significant impact on our economy. It’s the work of a lot of people, starting with the Mansfield Economic Development Corporation getting them to come to Mansfield. This is going to bring an economic impact including Realtors, builders, department stores and restaurants.”
Klein Tools agreed to invest $22 million and bring 126 jobs to the city by the end of 2012. The deal could ultimately lead to 585 jobs and $79 million in investments, according to the city, which would mean a net economic impact of more than $7.6 million in the first 10 years for Mansfield and $4.5 billion in the first decade for the state.
In return, the City Council offered a 12-year, $6 million performance-based deal that gives Illinois-based Klein Tools $500,000 cash grants each year that it meets benchmarks for employment and investments. The funds will come from the MEDC’s half-cent sales tax, said Scott Welmaker, the city’s director of economic development.
Klein Tools has already purchased the former Sandvik Mining & Construction building, a 126,000-square-foot structure at 1300 Heritage Parkway, and purchased $18 million in equipment, said City Manager Clayton Chandler.
The new center will make pliers, Klein's signature tool, said Tom Klein, president of Klein Tools and the fifth generation to work with the family owned company. As part of the agreement, each pair of pliers will have “Made in Mansfield, Texas” stamped on them.
A large portion of Klein's investment in the Mansfield center will be for robotics, said David Pettit, director of economic development for Fort Worth-based Gideon Total, which is serving as a consultant for Klein Tools.
The company has already begun hiring, Klein said, and expects the first delivery of automated equipment in March. The company looked at moving to Fort Worth and the Alliance area, he said, but “we felt that Mansfield offered more.”
Klein, a 1984 graduate of Texas Christian University, likes Texas and plans to move here, he said. He has two children currently attending TCU.
“Texas is a state that is very welcoming to business,” Klein said. “The City Council and economic development have been very good to work with. They have tried very hard to make things work. Mansfield made us feel very welcome.
“When this opportunity presented itself, Mansfield was really the only city that could pull it off,” Klein said.
Klein Tools could move other parts of its international company to Mansfield, too.
“They have facilities all over the country and in Mexico and Australia,” Pettit pointed out. “As they continue to evaluate what is the best place for their facilities, that is the hope.”
As part of the 12-year agreement, Klein Tools will have to meet benchmarks for investments and employment to continue to receive annual $500,000 cash grants. Those include:
- Purchase a $4.5 million building and $6 million in equipment by Dec. 31, 2010;
- Purchase $6 million in equipment, engage design services for the facility and employ 28 people by Dec. 31, 2011;
- Have approximately 60 acres under contract, add 100 employees and $6 million in capital investment by Dec. 31, 2012;
- Purchase approximately 60 acres in Mansfield, add 200 employees and have $6 million capital investment by Dec. 31, 2013;
- Add 100 employees and $6 million capital investment by Dec. 31, 2014;
- Add 100 employees and $6.5 million capital investment by Dec. 31, 2015;
- Add 35 employees and $7 million capital investment by Dec. 31, 2016;
- Maintain 585 employees and $7 million capital investment each year through Dec. 31, 2020;
- Maintain 585 employees by Dec. 31, 2021.
Other incentives offered by the city include reimbursements for water and sewer infrastructure, reimbursement for permit fees and 1.5 percent reimbursements for the sale price of homes purchased by Klein Tools employees in Mansfield.
The 153-year-old tool company will also receive $2.8 million in state grants from the Texas Enterprise Fund, which will also be based on job creation.
“As Texas continues to lead the nation in job creation, TEF investments like this one in Klein Tools are helping create jobs for Texas families and strengthening out state’s economy,” Gov. Rick Perry said in a statement. “Our low taxes, reasonable and predictable regulatory environment, skilled workforce and incentives like the TEF continue to help make Texas the model for job creation in the national economic recovery.” The state figures the company’s economic impact based on the potential for 585 jobs at $40,000 per year with 3 percent annual increases and full benefits, Welmaker said. The company has the potential to be in the top three private employers in the city, behind Mouser Electronics, which has 800-plus employees, and Methodist Mansfield Medical Center, which has approximately 650 employees, Welmaker said.
Klein Tools was founded in 1857 by German immigrant Mathias Klein. The company, which is still family owned and operated, manufactures tools used in construction, electronics, mining, electrical and telecommunications.
“This is a huge win for us,” Welmaker said. “It’s a very recognizable brand to people who know their product. Klein is considered the premiere electrical tool brand.”
Amanda Rogers, (817) 473-4451
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Klein Tools, a major tool manufacturer headquartered in Lincholnshire, Ill., is moving to Mansfield as part of a 12-year, performance-based deal with the city. The agreement could bring 585 jobs to the city.
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