Broken Arrow Economic Development Corporation Announces Molded Products Expansion and Investment of $1 Million to Fuel Job Creation and Market Expansion
The expansion project encompasses the construction of a state-of-the-art 10,000 square foot facility, complemented by strategic investments in new equipment. These enhancements will not only facilitate increased production capacity but will also position Molded Products to explore new opportunities in rubber molding markets. This expansion aligns with the company’s commitment to meeting the evolving needs of its customer base while pursuing growth avenues in emerging markets.
“This 10,000 SF building expansion along with our investment in two large ram presses and a rubber calender will allow us to enter new rubber molding markets and better serve our existing customer base,” said Allen Clonts, President of Molded Products, Inc. “We are excited for what the future holds and look forward to the new growth opportunities and further business expansion.”
“Molded Products has grown its company many times since it was founded in 1986, and I am extremely excited that its evolution will continue here in Broken Arrow with the expansion of its facility, equipment, and workforce,” said City Manager Michael Spurgeon. “This announcement is the latest example of private businesses realizing the value in their return on investing in Broken Arrow.”
The investment of $1 million into this expansion project underscores Molded Products’ dedication to fostering economic development within the community. This investment is anticipated to create between 5 to 10 new job opportunities, providing a positive impetus for local employment and reinforcing Broken Arrow’s position as a hub for industrial innovation.
“The $1 million investment in this expansion speaks volumes about their confidence in Broken Arrow’s economic landscape. This strategic move is not just about facilities and machinery; it is a testament to the growth potential and opportunities within our city,” said Jennifer Conway, President and CEO of BAEDC. “The BAEDC looks forward to witnessing the positive impact of this expansion on job creation and the overall industrial landscape of Broken Arrow.”
The Broken Arrow community can anticipate the positive ripple effects of this expansion, from increased job opportunities to a strengthened local economy. The BAEDC congratulates Molded Products on this milestone and remains committed to fostering an environment conducive to sustainable economic growth.
The Broken Arrow Economic Development Corporation is committed to promoting economic growth, innovation, and development in our region. Through strategic partnerships and initiatives, we aim to create a thriving business environment that benefits our community.