October 2022
{Brewer, ME} – Troy Industrial Solutions’ (TIS) fabrication facility in Brewer, Maine has been awarded $260,000 in federal grant money from the Maine Technology Institute, (MTI). MTI established the Pandemic Recovery for an Innovative Maine Economy (PRIME) Fund to distribute $39M in federal funding to help Maine businesses recover from the harm caused by the COVID-19 pandemic via business development and innovation in technology. The amount granted to TIS was part of MTI’s PRIME Fund, Phase 1, that targeted small businesses across Maine that work in, use, or leverage solutions connected to Maine’s technology sectors.
With the awarded grant money and TIS’ matching funds, the company can now move forward with plans that were put on hold as a result of the pandemic. In order to improve the quality of TIS products and stay in a competitive position in the market, it was determined TIS needed to replace a 20-year-old plasma table that is obsolete in both hardware and software. TIS is in the process of sourcing a new five (5) axis CNC High-Definition Plasma table to purchase that would provide premium cutting performance. In addition to investing in new processing equipment, TIS will be using the allocated funds to hire additional employees to support this investment, including a CNC Operator, Fabricator and Welder.
Based on efficiencies gained with the purchase of the new equipment, TIS anticipates growth in revenue of 10% over current estimates. This investment will provide the additional growth in revenue needed for TIS to move forward with their growth strategy. The next phase of the plan would include incorporating a 5,000 square foot high bay addition on to the existing fabrication facility, thus allowing TIS to handle larger projects and provide additional skilled manufacturing job opportunities.
TIS would like to thank the Brewer Economic Development Office for introducing this financial opportunity as a means to invest in resources to strengthen, grow and expand our presence in Maine.
About Troy Industrial Solutions:
Headquartered in the Capital Region of New York, with operations in ME, NH and CT, the Troy Industrial Solutions family of companies services manufacturing, aggregate, agricultural, power generation, municipal and industrial clients of all types and sizes throughout the Northeast.
For more information visit our website at www.troyindustrialsolutions.com.
“We Keep Industry Running” ~Troy Industrial Solutions
