With state support, Pegasus MFG Inc. plans at least 17 new jobs
GALESBURG—Governor Pat Quinn said today that Pegasus MFG Inc., a supplier of precision parts and assemblies for many types of manufacturers, will move to Galesburg, where it plans to hire at least 17 people.
Pegasus is relocating from Morgan Hill, Calif. The Illinois Department of Commerce and Economic Opportunity (DCEO) has approved tax credits for the company that are contingent on the new jobs and a capital investment of at least $1 million in Galesburg.
“We welcome this dynamic small business to Illinois,” Governor Quinn said. “Pegasus has customers across the country and we are glad it has found the Illinois advantages of location and transportation to be irresistible. We also are proud to help a business that is woman-owned.”
Pegasus’ other options were to move to Texas or stay in California. Ruth Whitehead, chief executive officer of Pegasus, said, “Ultimately, we selected Illinois for many business factors, but one key element is the dedicated work ethic of the people, coupled with their willingness to do whatever it takes to get a job done. This culture is the best kept secret of the state.”
Pegasus has operated for 14 years and uses advanced technology to achieve rapid design and prototyping of parts. Customers include Harley-Davidson Inc.; Heat and Control Inc., a manufacturer with a presence in Galesburg; Apple Inc.; and BNSF Railway Co.
Ray Whitehead, director of operations for Pegasus, said Galesburg provides the company with a central location from which to serve existing customers and expand.
The DCEO assistance package for the company is worth an estimated $262,000 over 10 years. It consists primarily of credits against Pegasus’ state income tax liability under the Economic Development for a Growing Economy, or EDGE, program.
Pegasus also will receive an $8,500 grant for job training and an investment tax credit and sales tax exemption available under the state’s Enterprise Zone program.
Additional assistance came from the City of Galesburg, the Galesburg Regional Economic Development Association and the Workforce Investment Board of Western Illinois.
The company has begun operating at 1382 Enterprise Ave. in the Galesburg Industrial Park and is hiring employees now. Pegasus may be contacted at 309-342-9337 or the website at pegasusmfginc.com.