Nanotechnology plant gets $30 million investment in R.I.
Aspen Aerogels breaks ground on first phase of thermal insulation facility
Aspen Aerogels held the ribbon cutting July 14 for a new, $30 million, state-of-the-art manufacturing facility that will bring dozens of well-paying jobs to East Providence, RI as well as plans for future expansions.
Aspen Aerogels makes highly efficient aerogel thermal insulation products used in a variety of industries including defense; building and construction; and hydrocarbon exploration, transportation and refining.
"We are pleased to make this large investment in East Providence. The facility is the centerpiece of our growth plans, which focus on helping our customers worldwide achieve their goals," said Don Young, Aspen Aerogels' president and CEO.
"I am pleased that Aspen Aerogels is opening this new facility and creating highly-skilled, manufacturing jobs here in East Providence," said Reed, a member of the Appropriations Committee and the Armed Services Committee. "The most efficient thermal insulation in the world will be manufactured right here in East Providence and it will help our troops in the field with everything from protecting them from heat seeking missiles to reducing the weight of ships and making them more energy efficient. I am pleased to have secured federal funding for this effort to strengthen our military and boost Rhode Island's economy. This is a win for our state and a smart investment that can reduce our military's dependence on oil and also have meaningful implications in the commercial and consumer sectors as well."
"Bringing Aspen Aerogels to East Providence is not only an investment in the city of East Providence, but more importantly, it is an investment in the people of Rhode Island," said Kennedy. "The opening of this new facility will bring many new jobs to the people of Rhode Island and in doing so, is an important step in bringing stability back to the economy of Rhode Island and its citizens."
"Aspen Aerogels' expansion is a great thing for Rhode Island's economy. In addition to creating more high wage jobs for Rhode Islanders, the expansion further strengthens our state's position as a leader in high technology manufacturing. We look forward to supporting Aspen Aerogels' continued growth in Rhode Island in the months and years to come," said Gov. Donald L. Carcieri .
Aspen Aerogels is headquartered in Northborough, MA, where it has an R&D facility and a smaller manufacturing plant. The 150,000-square-foot East Providence plant triples the company's production capacity. The company anticipates continued growing customer demand to result in two additional expansion phases at the East Providence facility, leading to increased local investment and jobs.
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Annual Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.