TRS to Expand Fargo Plant

 Fargo , N.D. (June 26, 2009) – TRS Industries, a company engaged in the manufacturing of tarp covers for semi trucks, boats, and trailers, is expanding their business.     TRS Industries is looking to purchase an adjacent 33,000 square foot building to accommodate their current expansion. This project is expected to create up to 12 new positions at TRS Industries within three years.   The company is required to create 5 positions under a loan agreement with the Growth Initiative Fund (GIF) through the Greater Fargo Moorhead Economic Development Corporation (GFMEDC).   TRS currently employs 27 full time employees and has been operating at over capacity of their current facility for the past couple years. TRS will continue to occupy their current location. Co-owner and manager Joy Cossette said, "This purchase is going to help us work more efficiently and expand into new directions.   It may even allow us to work with federal projects."  

              "It took us four years to grow out of our last expansion.   We're a little surprised to be expanding this soon," said Cossette.   Cossette attributes their success to a diversified product line. "We're so diversified we don't just do tarps for trucks, we do a lot of recreational things like boat covers, canopies, and awnings.   We even do bags.   With our website, we get requests from all over to do all kinds of things."   
            Cossette says the family owned business has been around for almost 26 years with plans to continue the success.   "The new generation has a lot of good ideas."

            "TRS is a primary sector company with a solid track record and is a vital part of the Fargo Moorhead economy.   The GFMEDC and the GIF are proud to support TRS in their expansion efforts.   The company's expansion is very welcome news for our region given the present condition of the local and national economies." said Brian Walters, President of the GFMEDC.

            The G.I.F's portion of the PACE loan is $25,000.00.   The PACE loan is collaboration between the GFMEDC, the Bank of North Dakota and a local bank, in this case Alerus Financial, to provide companies low interest financing.

The mission of the GFMEDC is to grow the economy of Cass County, N.D. and Clay County, Minn. by attracting, expanding and retaining primary sector businesses.   A primary sector business is one that brings new dollars into a community through the sale of its products and services outside the trade area.   A primary sector company is a company which can operate anywhere in the country.   The primary sector is the foundation of an economy and the principal driver of community growth and development.

            The purpose of Growth Initiative Fund, Inc. shall be to promote economic development in Cass County, North Dakota.   The Corporation shall exist to create and manage financial programs to encourage primary sector job creation in Cass County.  

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