Hartland-based EmbedTek announced today it plans to hire 72 full-time employees and grow its revenue from $13 million to $36 million by the end of 2015.
The company, which manufactures embedded computers and integrated displays, has already started hiring, said Tom Fotsch, chief operating officer. It has added about 30 employees this year and now has 65 total employees.
EmbedTek plans to move its operations from its 26,000-square-foot facility to a new location that has at least 50,000 square feet with room to expand, Fotsch said. It will spend $4.3 million on leasing and equipping the facility it chooses.
“We are looking at our options within the area and we will, through this time period, be moving into a new facility,” he said.
One of EmbedTek’s new customers recently transferred production work from Asia to its Hartland facility. The company’s value proposition, which includes quality, time to delivery, flexibility and value, has driven its growth, Fotsch said.
“It’s really winning new business and new customers,” he said. “We’ve won business and brought business back from (Asia) to Hartland.”
The company has invested $4 million into operations and increased revenue from $1 million to $10 million since 2009.
If EmbedTek meets its growth goals by the end of 2015, it is eligible for $300,000 in tax credits from the Wisconsin Economic Development Corp.
“Small businesses are such an important part of growing our economy and it is exciting to see EmbedTek’s investments paying off,” said Gov. Scott Walker. “Companies, like EmbedTek, are taking risks each and every day to push the limits and gain further success. They should be proud of their accomplishments, and we are excited to see another Wisconsin company thriving and expanding.”
