Injection molder AmericanMaid of Corona, Calif., will move 15 miles to take advantage of lower and more predictable utility costs in Riverside.
Production is scheduled to begin by Sept. 1, the city said in a news release.
An economic development electrical rate in Riverside cuts the city-owned utility's standard rate by 40 percent in the first year of operation and 20 percent during the second year. As a result, AmericanMaid should save nearly $1 million over four years vs. staying under industrial rates of Southern California Edison Co., the city projected.
AmericanMaid will lease 72,000 square feet in a 150,000-square-foot building and have access to an existing 4,000-amp power service, said Finn Comer, vice president in the Riverside office of commercial real estate broker Lee and Associates. A custom wheel manufacturer was the previous tenant, Comer said in a telephone interview.
AmericanMaid committed to spend at least $500,000 on tenant improvements and add 25 new positions in Riverside. The processor has an option on another 30,000 square feet in the facility.
AmericanMaid has about 125 employees, operates 26 injection molding machines and occupies about 75,000 square feet in two noncontiguous Corona structures, according to the city of Riverside.
The firm molds items for bath, kitchen, home utility and storage applications. AmericanMaid, a division of Advanced Plastics Inc., was established in 1982. Eric Abdi is president.
Riverside's economic development and public utilities representatives worked with AmericanMaid over three months to find a location suitable for a quick transition.