TOPEKA FOUNDRY & IRON WORKS MAKES ADDITIONAL CAPITAL INVESTMENT, INCREASING IMPACT OF EXPANSION TO MORE THAN $210M
Topeka, KS — Today, Topeka and Shawnee County’s Joint Economic Development Organization (JEDO) board approved an incentive-agreement amendment that will aid in the expansion of Topeka Foundry & Iron Works (TFI), an innovative Topeka-based machine and fabrication shop that has provided engineering and manufacturing solutions in the capital city for nearly 150 years.
Previously referred to as “Project James,” this incentive amendment builds on the prior “Project Bond” agreement approved in May 2020, as TFI needed to make an additional $5 million capital investment in the existing project. In total, the company’s expansion is expected to result in a $210,500,000 economic impact over 10 years, with $2.5 million of that economic impact resulting from the Project James amendment. The performance-based JEDO incentive for Project James is $10,000, representing a 450% return on investment.
“The support of GO Topeka and JEDO, coupled with the great people and work TFI has become known for, are key drivers of the growth we’re witnessing today,” said Jon Haas, owner of TFI, an HME company. “The expansion includes investments in new technology and building restorations at 2nd and Jackson, bringing more work and more jobs to Topeka.
“When we talk about companies that have had a long-lasting impact in Shawnee County, TFI immediately comes to mind,” said Aaron Mays, JEDO chair. “Their continued growth and success is a win for this community.”
“GO Topeka is proud to continue its support of TFI,” said Molly Howey, president of GO Topeka. “It isn’t every day we get to help grow a company with 150 years of history in our area. We look forward to seeing them advance and succeed for generations to come.”
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If you would like more information about this topic, please contact Bob Ross at 785.234.1030 or Bob.Ross@TopekaPartnership.com.
About Greater Topeka
The Greater Topeka area in Shawnee County represents a community of 178,909 people and is located in the Greater Kansas City region. As the state capital of Kansas, Topeka is home to a dynamic employer base. Companies headquartered here include Hill’s Pet Nutrition, Advisors Excel, Security Benefit, Capitol Federal and Evergy.
About GO Topeka
GO Topeka creates county-wide economic success for all companies and citizens through implementation of an aggressive economic-development strategy that capitalizes on the unique strengths of the community. GO Topeka operates under the Greater Topeka Partnership and is the leading economic development agency in the area. For more, visit GoTopeka.com.
