Proto Labs to invest $25 million in next 5 years

We have spoken a lot about the extreme innovations that are possible with a little assistance of 3d printing, it’s an amazing tool to use but does it always convert to real business. For 3d printing to be a viable manufacturing alternative to conventional methods it has to be cheaper and a faster option for people to adopt. Whatever we have seen until now gives us strong indications that 3d printing is here to stay. Over the past year or so there have been many instances reported by big multinational companies where they claimed to have saved huge amounts of money by accepting 3d printing processes.

3d printing has the potential to bring back the era of local manufacturing, as a bi product the local people will get work. The employment generation opportunities that 3d printing offers can be a great incentive for local companies and governments to make this a stream manufacturing option.

ProtoLabs 3d printing company

Taking the lead from this book a company called Proto Labs, from Maple Plain, Minnesota has announced that would be investing $25 million over the next 5 years. This money will be used to setup a state of the art 3d printing and prototyping plant at Town of Cary in Wake County. This new manufacturing unit will also give jobs to 170 highly skilled people.

Proto Labs Company Profile: It was setup in the year 1999 by a serial entrepreneur Larry Lukis. The company which started its operations from Wake County now has offices in the continents of Europe and Asia. The company claims to be the fastest world's fastest injection molding and CNC machining service provider. In 2012 the company went public and in 2014 expanded its business by acquiring FineLine Prototyping, Inc. a leading provider of additive manufactured parts.

ProtoLabs 3d printing company

Talking about the new 3D printing services at Proto Labs, Rob Connelly, Proto Labs' VP said "Since the launch of 3D printing at Proto Labs, we've increased our capabilities here in the U.S. and we've also introduced our additive manufacturing services in Europe. Our state-of-the-art facility in North Carolina will be a critical driver in advancing 3D printing in the U.S. and globally for many years to come."

According to the company’s official statement, the jobs created at the new facility will pay an average $44,000 as salaries to the newly employed. As a five year commitment towards the new jobs creating, the company will be paying somewhere around $7.5 million in annual salary payout. If they successfully execute this plan they will become eligible for a $150,000 grant from the One North Carolina Fund.

This is kind of 1st real instance where 3d printing is officially the driving force behind Job creation, We are excited at the idea of local manufacturing which kind of encourages the sustainability and growth of local businesses. We are sure this is not the last such instance and we are more than ready to report many more companies making such announcements.

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