Janesville company pondering expansion
JANESVILLE A growing Janesville manufacturer will ask the Rock County Board for an option to buy five acres in case it needs to make a multimillion-dollar expansion that could lead to 70 new jobs in Janesville.
Josh Gray, president of GOEX Corp., said the company should be able to decide before the end of 2013 whether the company will proceed with the project.
GOEX is an industry leader in extruding a variety of resins into custom rigid plastic sheet and roll stock. The company employs about 130 people at its plant at 2532 Foster Ave.
In 1999, the company bought about 24 acres on the south side of Highway 14 at Newville Road. At the time, it had plans for a 50,000-square-foot extrusion plant that could use a railroad spur from a nearby Union Pacific line.
"Although we manufactured the product to the specification requested, the customer decided not to commercialize the product," Gray said, adding that the project was ultimately scrapped.
GOEX has posted double-digit growth in each of the last 10 years.
The company is landlocked and is again considering options for expansion.
Over the years, it has tweaked its Foster Avenue plant several times to improve efficiency, Gray said.
"We've been able to grow our market share as a medium-sized supplier in an extremely large market," he said. "We've taken market share through a combination of our innovation and outperforming our competitors."
On Thursday, the company will ask the Rock County Board for a one-year option to buy five acres needed for infrastructure right-of-ways. The price has been set at $46,000 per acre.
According to information provided to the county board, the project could involve a 150,000-square-foot plant and the creation of 70 jobs. The company's investment could be between $12 million and $15 million.
"While we consider all of our long-range needs, we want to ensure the Highway 14 site can accommodate them," Gray said. "We appreciate the considerations we have asked for from the county."
GOEX would like to take advantage of rail service.
"Getting our raw products by rail would be an important consideration," he said. "We are in commodity markets that are often driven by pennies, and savings associated with receiving our raw material via rail will be crucial to our continued growth."