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The Economic Development Council of southeast Florida’s St. Lucie County announced earlier this month that Accel International Holdings, a producer of wire and cable products, is investing $55 million in a new factory in Port St. Lucie.
Connecticut-based Accel, which offers a range of wire and plated copper products, will build a 150,000-square-foot factory that is expected to create 125 jobs by 2021 with an average salary of $47,000.
The new plant will produce high-performance cables, wires, and conductors that serve the markets of aerospace, medical, industrial, and telecommunications with plated copper and copper alloy products.
Accel currently operates from three factories between Connecticut and Indiana, covering a combined 450,000-square-feet of vertically integrated production space. Accel also has smaller operations in Canada, Mexico, and China.
According to a June 2019 report by VeroNews.com, the new plant comes after a deal for Accel to acquire a competing cable and wire manufacturer fell through, resulting in Accel opting to build the new facility.
Accel is expected to break ground on the Port St. Lucie plant later this year, while a 40-acre purchase in the investment will enable future expansion. The company’s website states that it expects to open the new plant in 2021 and already has plans to expand it to 300,000-square-feet in 2023.
Image Credit: Courtesy of Accel International.
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