The Northeastern Pennsylvania Industrial Resource Center and Northeastern Pennsylvania Alliance (NEPA) recently presented McGregor Industries with a $200,000 loan through the NEPA Alliance Appalachian Regional Commission.
The loan will go toward the $750,000 needed to purchase machinery and equipment that will allow the company to keep up with customer demand. It will also allow the company to add an additional three full-time employees.
The remainder of the funds came from three sources: $275,000 in bank financing from People’s Security Bank, $200,000 from The Northeastern Pennsylvania Industrial Resource Center (NEPIRC), and a $75,000 equity injection from McGregor.
McGregor fabricates and installs miscellaneous metal components. These components are used for artistic projects, buildings, and other applications that require cutting, bending, welding, and finishing metal.
The company excels at the fabrication and installation of tower stairs for residential and office buildings in urban areas, and is known in the community as “the company that can do anything” with steel, according to NEPA.
NEPIRC also helped McGregor identify opportunities for equipment modernization and offered guidance to maximize the plant’s capacity by improving flow.
Founded in 1919, McGregor is headquartered in Dunmore and employs 50 full-time workers.
The company operates a 32,325 square-foot production facility on six acres.