Powder Metal Technicians has announced the completion of its relocation to Franklin from Indianapolis. Announced last year, the project was financed by a loan from the U.S. Small Business Administration 504 loan program.
BMO Harris Bank and Indiana Statewide Certified Development Corporation provided the nearly $598,000 loan, which Doug Hefley owner and president of the 18-year-old company said helped make the expansion affordable.
“The SBA 504 loan let us build the building at a down payment we could afford,” Hefley said in a news release.
Powder Metal’s new building has double the space of the current location, coming in at 14,000 square feet.
The total project cost of the new building came in at over $1.4 million. With the new manufacturing facility’s robotics, machining and fabrications equipment, Hefley says Powder Metal Technicians can customize parts and rebuild machinery in less time and with more precision.
PMT offers machining, robotics, and custom equipment. The company currently employs 12 people and plans to hire three more this year. They will be looking for applicants who have experience in machining, robotics and machine set-up at their new location later this year.