10/28/2005
An Alexandria manufacturing company has made the 2005 Inc. 500 list, which honors the fastest growing privately held businesses in America.
The November issue of New York-based Inc. magazine ranks the Aagard Group as number 90 on a list of 500 companies that “are building the future very, very rapidly.”
Founded in 1997, the company posted a phenomenal growth rate of 927.4 percent in the last three years with revenues now totaling $7.6 million, the magazine notes.
The Aagard Group and its 42 employees design and manufacture automated machinery used for packaging. Most of its customers are in the food industry and include Hormel Foods, General Mills and Schwan’s.
To accommodate its growth, the company is in the process of moving from its facility at 2504 Aga Drive to a new site in the Industrial Park. It’s taking advantage of the state’s new economic development tool, JOBZ, which offers tax incentives for business start-ups and relocations.
Groundbreaking ceremonies for the new 36,000 square-foot facility are planned today, Friday at 10 a.m.
The magazine answers the question, “why is the company growing,” by noting that Aagard saves clients money through efficiency.
“Its products combine and integrate operations and are roughly half the size of standard devices,” Inc. reported.
- Echo Press
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