Roadtec Inc., the paving equipment manufacturer and a subsidiary of Astec Industries, will invest $6.2 million to expand its operations in Chattanooga, Tennessee, and create 128 new jobs in Hamilton County.
The company will make building and site improvements and relocate a portion of its Washington operations to its headquarters in Tennessee.
“Our vision is about building connections whether it’s to our customers, employees or the communities where we operate. We have enjoyed a strong partnership with the state of Tennessee, city of Chattanooga and Hamilton County. We look forward to strengthening that connection and bringing more growth and opportunity to the area,” Barry Ruffalo, president and CEO of Astec Industries, Inc. said.
Maxis assisted Astec with the evaluation of multiple sites and buildings among several states, while making critical connections with state and local leaders in Tennessee. Maxis also coordinated a significant incentive package to help close the deal.
“Roadtec has been a valued Hamilton County company for over 30 years, and I am grateful that this expansion will bring new jobs to Chattanooga’s business community. When companies choose to expand in Tennessee, it underscores our pro-business climate and highly skilled workforce, and we thank Roadtec for its continued commitment to Tennessee,” said Governor Bill Lee.
“Thank you, Roadtec, for creating 130 new jobs that are well above the county median wage. Over 80 percent of projects in Hamilton County in the last five years have been expansions, which shows that once a business puts down roots here, it has plenty of reasons to stay and grow,” added TNECD Commissioner Bob Rolfe.
About Maxis Advisors
Maxis Advisors provides comprehensive incentive analysis and negotiation, location analysis and selection, and real estate advisory services throughout the U.S. to international and domestic companies.
Founded in 1996, Maxis applies its expertise in incentive negotiation and site selection to increase project ROI and IRR for manufacturing, distribution, office and real estate development projects. Maxis has successfully negotiated incentive packages on projects representing over $8 billion in capital investment and 6,500 jobs in 42 states.
For more information, see www.maxisadvisors.com.
Roadtec, a subsidiary of Astec Industries, has operated in Chattanooga for 30 years. Astec Industries is a global leader in equipment manufacturing for road building and aggregate processing. The company manufactures more than 100 products from rock crushing and screening plants to hot mix asphalt facilities, concrete plants, milling machines, asphalt pavers and material transfer vehicles.
For more information, see www.astecindustries.com.