Jun 19, 2015 | By Lilian

Maple Plain, Minnesota-based company Proto Labs says it will invest more than $25 million and add 170 new jobs at its facility in the Town of Cary in Wake County over the next five years.

Proto Labs, which launched in 1999, is a leading online and technology-enabled manufacturer of custom parts for prototyping and short-run production. The company currently has 106 employees in Wake County. The Cary location will house the company's expanded 3D printing operation.

"Since the launch of 3D printing at Proto Labs, we've increased our capabilities here in the U.S. and we've also introduced our additive manufacturing services in Europe," explained Rob Connelly, Proto Labs' VP of Additive Manufacturing. "Our state-of-the-art facility in North Carolina will be a critical driver in advancing 3D printing in the U.S. and globally for many years to come."

According to a statement, salaries will vary by job but will include engineering, manufacturing, and administrative positions. The new jobs will pay on average some $44,000. The annual payroll of the new jobs will exceed $7.5 million at the end of the five year commitment.

Proto Labs is eligible to receive a $150,000 grant from the One North Carolina Fund if it meets hiring and investment milestones.

Last year Proto expanded into 3D printing when it acquired Raleigh-based FineLine Prototyping for $38 million. John Way, CFO of Proto Labs, said in an interview that the 3D printing business has become its fastest growing service line that they have in their business. The 3D printing business is being driven by market demand and Proto's ability to sell the service to its existing customer base, rising 48 percent in the fourth quarter of 2014 and jumping 79 percent in the latest quarter.

Way said that the company will acquire a new Cary building and they plan to move in by early 2016.

 

Posted in 3D Printing Company

 

 

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