Hoeven, Novaspect Break Ground for New Mandan Facility
CENTER, N.D. – U.S. Senator John Hoeven, along with Novaspect Holdings Inc. chief financial officer Mike Franz and other executive team members, today broke ground for Novaspect’s new facility in Mandan. Today’s groundbreaking marks Novaspect’s ongoing efforts to expand in North Dakota. The company has held a sales presence in North Dakota since 1992 and has decided to center its first physical facility in Mandan as an effective means to best serve all regions of the state.
“This is great news for Mandan,” Hoeven said. “They’ve worked hard to attract businesses to their community. Novaspect’s expansion here shows how energy growth in our state is helping businesses beyond the Williston Basin.”
Novaspect provides engineering solutions for process control needs, selling valves, instrumentation, mechanicals services and computer systems that control the flow of industrial processes. The company has developed a reputation for fostering strong local business relationships and partnerships and has long worked with a number of North Dakota companies, including ACS, Minnkota Power, University of North Dakota, Dakota Gasification, Great River Energy, Basin Electric, Ottertail Power and Tesoro. In recent years, the company’s presence in North Dakota has grown steadily in conjunction with the growing demands of companies working in the Bakken region.
The new Novaspect Mandan facility will be 20,000 square feet and is currently slated to open next year. Novaspect plans to hire 12 employees by the end of this year and anticipates that 30 – 35 fulltime employees will work from the Mandan location within the next two years, with a payroll of $2.6 million. The company plans to invest more than $1 million in inventory and maintain its close connections to Bismarck State College where the company currently lectures and provides technical training and support.
Senator Hoeven has worked in the U.S. Senate to introduce legislation that will create a comprehensive energy plan similar to the effective policies implemented in North Dakota. The senator recently introduced the Domestic Energy and Jobs Act of 2012 (DEJA) as a comprehensive package of energy legislation that will not only reduce the high energy costs faced by hard-working families and small businesses, but also spur badly-needed economic growth and job creation across the U.S. economy.
The Bakken’s oil and gas resources were considered too expensive to develop a decade ago, but the favorable legal, tax and regulatory environment developed by the state and advances in drilling technology have pushed North Dakota’s oil production to 675,000 barrels a day, second only to Texas.
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