Fargo, ND (August 12, 2021) – Standard Industries plans to break ground on a new 120,000 square foot building in Fargo. The company previously occupied 38,000 square feet of space where it has operated for a number of decades. This project will add around $8.4 million in total capital investment ($7.2 million building and $1.2 million in new equipment) with 26 additional jobs to our market. The additional space and land provides the company room for future growth.
Standard Industries operates as a metal fabrication business and provides a variety of stainless steel, precision steel and aluminum products to their growing clientele nationwide. Historical product focus has been in the ag equipment space such as cultivators, defoliators, seedbedders, harvesters and more. In recent years, the company has shifted into other more diverse product areas including large industrial tank manufacturing.
The EDC partnered with Standard Industries to support the company’s growth. EDC’s support included connection to affordable financing and incentives that helped push this project from vision to reality.
“Working with the GFMEDC helped us solidify our decision to take a major leap forward with this significant project,” said Mike Lepine, Owner and President of Standard Industries, “Knowing there were resources and partners out there to help us de-risk this investment was critical to this expansion moving forward.”
The EDC strategically partners with companies which supports their efforts to make the bigger investments which flows into the regional economy.
“We continue to marvel at the ability of the firms in our market to constantly innovate. Standard Industries has been around for more than 60 years and is a prime example of a company with tremendous capabilities in advanced manufacturing that understood their strength in ag. equipment manufacturing could translate to other industries,” said Ryan Aasheim, Chief Business Development Officer with the GFMEDC, “We are excited that they decided to build on that growth here.
About Standard Industries
Standard Industries is a family owned and operated company that was established in Fargo after WWII. Since its inception, the company has been operated and grown under three generations of the Lepine family. www.stanind.com
About the GFMEDC:
The Greater Fargo Moorhead Economic Development Corporation (GFMEDC) is a catalyst for economic growth and prosperity. Using a comprehensive approach to economic development, the GFMEDC accelerates job and wealth creation in Cass County, ND and Clay County, Minn. www.GFMEDC.com