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Galesburg Council approves financial package for Jupiter Machine Tool Inc.

The Galesburg City Council last night approved a $100,000 relocation grant and a $680,000 revolving loan for Jupiter Machine Tool Inc.

The $100,000 would be used to build a 10,000 sq. ft facility in south Galesburg, that would be established as Jupiter’s company headquarters.

Ray Whitehead, who co-owns both Jupiter and Pegasus Manufacturing that operates in Galesburg, spoke before the council’s vote. He says that when Pegasus relocated to Galesburg they realized they had to ignite enthusiasm for vocational training, “The entire United States has about a 22-year-old hole in that side of it. As we get back in the manufacturing business in the United States, we just don’t have enough qualified people.”

They’ve announced intentions for 52 full-time jobs in the next 36 months and Pegasus Manufacturing continues to offer employment for qualified applicants.

Whitehead says the company locating their headquarters in Galesburg could change not only the community but the local region itself.

Pegasus has supplied Galesburg High School and Carl Sandburg College with CNC machines and an instructor to become certified.

He says this is a “win-win” helping the community, his companies and area students. “The students get involved with the direct reality and the school’s then are able to increase the supply chain from K10 up through community college for education,” said Whitehead. “At the same time we have a number of those jobs open already. We’ve done this before with the high schools.”

President of the Knox County Area Partnership for Economic Development Ken Springer what council approved is a piece of a “multi-part financing deal.” Springer says the Pegasus relocation, the CNC classes and Jupiter locating in Galesburg is all a part of turning Knox County into a hub of advanced manufacturing.

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