Custom thermoformer Paragon Plastics Inc. needs more room and is considering two sites for expansion that would nearly double its space.
“Right now, we are really packed in here and we're out of space for all the products we are running,” said David Trout, president and CEO, in a phone interview.
Paragon currently operates out of a 35,000 square foot facility in Cocoa, Fla. It does a lot of work for the marine industry — about 50 percent of its business — but it has also diversified into other products as well and that's why it needs more space.
“We've been looking for years but there's nothing out there that fits our needs for thermoforming,” Trout said.
“The way the market is, it is the best time to build,” he added.
The company is working with city and county officials on a proposed 66,000-square-foot facility on 6 acres in Titusville, Fla. It is also considering a second site in Orlando, Fla.
Trout said the company hopes to be in a new building by the end of 2016.
The Titusville plan would be a $3 million project and would potentially add 10 more employees to its 30-person staff.
Part of the decision of where to move is based on economics and Trout said the company applied for tax incentives from the county. He expects to hear later in May if the incentives are available.
Trout founded the company in 1993. It started with marine components, but now does work for industries such as aerospace, agriculture, automotive, construction, medical, military, recreation and transportation.