MD: Taneytown Manufacturer, EVAPCO, to Invest $15M, Expand, Add 125 Jobs
23 Feb, 2017
EVAPCO, Inc., a global designer and manufacturer of evaporative cooling and industrial refrigeration products, is expanding its manufacturing operations in Carroll County and adding 125 new jobs over the next five years. The company will invest $15 million to expand its manufacturing facility in Taneytown, including the construction of a new 160,000-square-foot building adjacent to its current facility.
“EVAPCO is delighted to support the Maryland economy and provide additional employment opportunities in Carroll County as our company continues to grow and prosper,” said William G. Bartley, EVAPCO’s president and CEO.
Since its founding in 1976, EVAPCO has become an industry leader in the engineering and manufacturing of quality-heat transfer products around the world. The company has been recognized for its environmentally-friendly innovations in sound reduction and water management. EVAPCO products are manufactured in 22 locations in 10 countries around the world and supplied through a sales network of more than 170 offices.
“The continued growth of a company with a national and global footprint like EVAPCO is a tremendous asset to Carroll County and the State of Maryland,” said Governor Larry Hogan. “Our administration is committed to helping companies like EVAPCO - a business that is thriving and providing the citizens of our state with great jobs and more opportunity.”
To assist with project costs, the Maryland Department of Commerce has approved a $625,000 conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF). The Carroll County Department of Economic Development is providing a $75,000 training grant, as well as assistance in employee recruitment through the Carroll County Business & Employment Resource Center. The company is also eligible for various tax credits including Maryland’s Job Creation Tax Credit.
“We are pleased to support the expansion of EVAPCO, which has made its home in Maryland for more than 40 years," said Maryland Department of Commerce Secretary Mike Gill. "With a renewed focus on attracting, retaining, and expanding businesses -- and creating jobs -- Maryland Commerce works closely with our partners in county and local government to ensure that companies like EVAPCO stay and grow right here in Maryland."
“Carroll County is committed to economic development initiatives that benefit our local community. EVAPCO’s world headquarters is located in Taneytown and I am pleased that they have chosen to expand their operations right here at home,” said Jack Lyburn, director of the Carroll County Department of Economic Development. “EVAPCO is already one of our major employers and this expansion is a testament to the supportive business environment of the state of Maryland and Carroll County.”
EVAPCO is an employee-owned company with a strong emphasis on research and development and modern manufacturing plans. For more information about the company, visit www.evapco.com.
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.