Polyrack North American Corp. was joined this month by Gov. Donald L. Carcieri, Mayor David S. Iwuc, the R.I. Economic Development Corporation and the nonprofit Economic Development Foundation of Rhode Island Inc. as the company announced it has chosen Highland Corporate Park as the site of its new North American facility.
PNAC has agreed to purchase Highland Lot 21 from the EDFRI, the parties said. The company is a unit of Germany-based Polyrack-Tech Group, a provider of products and services to the electronics industry. The parent company is divided into electronic packaging systems maker Polyrack Electronic-Aufbausysteme GmbH, plastics technology specialist Rapp Kunststofftechnik and surface finisher Rapp Oberflächenbearbeitung.
“I’m very pleased that another global corporation has chosen Rhode Island as their destination of choice for expansion within the North American marketplace,” Carcieri said. “The Highland Corporate Park serves as an important asset in our efforts to attract companies who are looking to grow. We welcome Polyrack’s expansion in Rhode Island and the new jobs they are bringing to our state.”
“The Economic Development Foundation of Rhode Island is pleased to add Polyrack North American Corp. to a growing list of quality, globally focused companies that have selected the Highland Corporate Park,” said Marcel A. Valois, the EDFRI’s chairman.
“In a time when we forget the importance of manufacturing to our state’s economy, Polyrack represents the type of design-driven, high-value-added manufacturer that finds Rhode Island and Highland/Cumberland a good investment,” he added. “Polyrack is the type of clean, technical manufacturer that complements the image of Highland/Cumberland.”
“The Polyrack Tech-Group is very excited to begin construction in Highland Corporate Park in Cumberland,” said Andreas Rapp, the president of PNAC.
“Our search for the perfect location started in southern Rhode Island, more than six months ago,” he recalled. On visiting Highland, he said, “Immediately, we felt the park is a perfect fit and prime location to build our North American headquarters. The clean and well-manicured look of the park fits our corporate image and philosophy.
“In addition, Rhode Island and the surrounding cities and towns give our company the perfect representation to our existing and potential customers,” the PNAC president said.
The transaction is being brokered by Gerald C. Surprenant of MG Commercial Real Estate Services, in Providence. Vision3 Architects and New England Construction have been retained to design and build the company’s new facility – in the same clean look that is a trademark of Polyrack’sEuropean facilities, Rapp said.
Saul Kaplan, executive director of the RIEDC, noted that “Creating an innovation economy … continues to be a core focus in Rhode Island’s economic development efforts. … Polyrack serves as another example of our state’s growing innovation economy, bringing with it highly skilled jobs, state-of-the-art facilities and jobs with high wages.”
The project is currently in the design and permitting stage, with construction expected to begin by early fall and operations at the facility expected to begin by the summer of 2008, according to Polyrack. In Phase One, the company plans a 15,000 square foot office and manufacturing facility, expandable to 25,000 square feet.
“We look forward to serving the U.S. and Canadian market from the Highland Corporate Park,” Rapp said.
