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Encore Wire Corp. Celebrates 25th Anniversary with major expansion in McKinney
MCKINNEY, Texas, July 29, 2014 /PRNewswire/ -- Encore Wire Corporation announced their plans for a major expansion at the McKinney City Council work session on July 28, 2014. This year, one of McKinney's largest employers is celebrating its 25th anniversary by growing. Encore Wire, the one-stop source for residential and commercial wire, plans to celebrate by investing more than $30 million to expand its manufacturing facilities and provide more than 125 new jobs in McKinney.
"Encore Wire has been a staple in our community for 25 years and is respected locally, nationally and even globally, as seen by their recent award as one of 'America's 100 Most Trustworthy Companies'," said McKinney Mayor Brian Loughmiller. "The City of McKinney and MEDC are committed to supporting existing McKinney businesses, and we are privileged to have an outstanding company like Encore Wire headquartered in our city."
Encore was formed in 1989 with only 12 employees in a 68,000 square foot facility. The company now employs over 1,180 and is the largest taxpayer in McKinney, according to the Collin County CAD. Encore has expanded numerous times throughout its history, and this marks the 10th expansion the McKinney Economic Development Corporation (MEDC) has supported. This 125- percent expansion of the existing aluminum wire plant will add 128 new jobs and increase the size of one of their plants from 200,000 square feet to 450,000 square feet.
"We are excited to be a part of a growing community and we are very thankful that the McKinney Economic Development Corporation is committed to helping us," said Daniel Jones, President & CEO of Encore Wire Corporation. "The partnership we have with the city has made us one of the top employers in McKinney, and we are thrilled to be able to provide more jobs for the community."
"Encore Wire and the city of McKinney go hand-in-hand," Jones said. "As the city continues to grow and expand so does Encore Wire, and we cannot wait to see what the future holds for both of us."
The expansion is expected to be complete in December.
About Encore Wire Corporation
Encore Wire offers one-stop sourcing for all your residential, commercial and industrial copper and aluminum wire needs. Backed by a select family of loyal distributors, Encore is driven by old-fashioned values and strives to always exceed expectations. Their expansive, state-of-the-art warehouse facilities and highly acclaimed color-coding system, allows them to keep inventory levels broad and deep, while continuing to maintain a goal of a 100% fill-rate. Encore Wire is publicly traded on NASDAQ under the symbol WIRE. For more information visit the company's website, www.encorewire.com/.
About the McKinney Economic Development Corporation
The McKinney Economic Development Corporation (MEDC) was created in 1993 to support the development, expansion and relocation of new and existing companies. The MEDC is an organization with a mission to work to create an environment in which community-oriented businesses can thrive. The MEDC is actively pursuing investments in Aeronautics /Aviation, corporate headquarters, emerging technology, healthcare and medical device manufacturing, professional services and renewable energy. For more information, visit www.mckinneyedc.com.
SOURCE The City of McKinney
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