Custom injection molder Trademark Plastics Inc. in July plans to move to a facility under construction in Riverside, Calif.
The company anticipates saving more than $1 million in utility expenses over three years vs. the industrial rates of its current supplier, an investor-owned utility. Riverside's city-owned utility offers a limited-time electrical rate to businesses moving to the city.
``Trademark was looking for a location that could provide low-cost utilities along with a building that would allow us to move in quickly,'' Jerry Carty, president and chief executive officer, said in a news release.
Now located 21 miles away in Rancho Cucamonga, Calif., Trademark employs 150 and occupies 55,000 square feet. Medical device companies buy about 70 percent of Trademark's output.
Trademark signed a 10-year lease and purchase option with Magnon Cos. for a 100,000-square-foot building on 51/2 acres in an enterprise zone that will result in state and local tax credits. Also, the city is helping Trademark obtain tax-exempt industrial development bond financing.
The firm operates 28 presses with 35-385 tons of clamping force for Class 10,000 and 100,000 clean room work. It also does mold making and maintenance. Trademark intends to add 90 employees over two years and has eight additional presses on order for the new location.
``As a precision high-tech manufacturer, Trademark will be an excellent addition,'' said Kevin Palmer, the city's economic development manager.
Other recent plastics-related moves to Riverside include the 2001 decision by Sabert Corp. of Sayreville, N.J., to build a West Coast facility to distribute, and eventually thermoform, plastic serviceware. Also, Advanced Plastics Inc.'s AmericanMaid division moved 15 miles from Corona, Calif., with its injection molding for bath, kitchen, home utility and storage applications.