Investments in Groundbreaking Technology to Grow Production for EV and Renewable Energy Markets Bolstered by REV Incentives

WOOD DALE - Governor JB Pritzker, Wiegel Tool Works, Inc. and the Illinois Department of Commerce and Economic Opportunity (DCEO) today announced a Reimagining Energy and Vehicles in Illinois (REV Illinois) agreement for Wiegel's $5.5 million investment to incorporate groundbreaking technology to supply the electric vehicle (EV) and renewable energy markets. The investment will enable Wiegel to expand its Wood Dale headquarters and purchase state-of-the-art machinery and equipment to produce products that will help meet Illinois' clean energy goals.

"With every new investment, Illinois is growing its clean energy economy - and today, I'm proud to announce Wiegel's $5.5 million expansion in our great state," said Governor JB Pritzker. "Thanks to REV Illinois incentives, Wiegel's investment will not only build critical technology for the renewable energy sector, but also create good-paying jobs that strengthen our workforce. This partnership will supercharge Illinois' role as a national leader in clean energy, bringing us closer to our climate goals and solidifying our state as the best place for EV and renewable energy technology."

"For over 80 years, Wiegel has exemplified Illinois manufacturing excellence, and now they're a leader in our clean energy future," said Lt. Governor Stratton. "This expansion shows how our manufacturers are creating good-paying jobs while advancing Illinois' leadership in the global energy transition."

Grandfather Otto Wiegel founded the company in 1941 as Industrial Tool Works. The company was later incorporated as Wiegel Tool Works Inc in 1964 and since 2010, has been run by the third generation of siblings as Wiegel. Today, Wiegel provides its customers comprehensive product design, product development and fully-automated product manufacturing services as a leading tool and die metal stamper, product assembler, integrator, and battery component manufacturer.

"We would like to thank all involved for approving Wiegel for this program," said Wiegel President and CEO Aaron Wiegel. "Illinois' continued support in grants throughout our history has helped propel Wiegel to become a world-class manufacturer in Illinois. Furthermore, the state's government agencies including DCEO and IDOT, along with DCEO's ISTEP program, have assisted Wiegel in becoming an international brand through the state's local infrastructure and ecosystem. The state of Illinois' strategic infrastructure, which includes technical schools, and a highly skilled workforce, and the state's government is a key part of our success. Illinois has been, and continues to be, an integral partner to Wiegel's historic growth. By incorporating this groundbreaking technology, Wiegel will have the ability to rapidly adapt to our customers' customized busbar needs. In addition, this grant will give us opportunities to expand in the fast-growing energy transition sector."

REV incentives will expedite Wiegel's business plan to produce more products critical for the renewable energy sector, including E-mobility, EV chargers, aviation, agriculture, and battery storage systems. This investment will also support the creation of new good-paying job opportunities and the expansion of Wiegel's Wood Dale headquarters.

Through its investment, the company will construct an addition bridging two existing facilities to expand the Wood Dale manufacturing facility's total square footage and increase its manufacturing capacity and efficiency. Wiegel will purchase a key piece of machinery that will enable the company to produce copper busbars for the EV market.

"REV Illinois is changing the way we do business in Illinois," said DCEO Director Kristin Richards. "Our existing manufacturers have a significant role to play in the energy transition. Wiegel is an Illinois innovator who for over three generations has responded nimbly and swiftly to changing market conditions, and is now creating opportunities in the electric vehicle space. The State's agreement with Wiegel is a testament to our continued commitment to homegrown companies who are creating sustainable innovations that will significantly reduce our carbon footprint and benefit our world-class workforce."

With its commitment to investing $5.5 million, retaining and strengthening its workforce of 105 team members, and creating 11 more jobs over four years, Wiegel will receive Reimagining Energy and Vehicles (REV) incentives from DCEO. REV provides competitive incentives for manufacturers across EV and renewables sectors to expand in or move to Illinois. A link to the executed REV agreement can be found here.

Wiegel has also had a long relationship with the state's Office of Trade and Investment Since 2012, Wiegel has participated in the Illinois State Trade and Export Promotion (ISTEP) program, which provides customized support to Illinois small businesses for international economic development. Wiegel attended numerous trade shows throughout Europe resulting in the creation of local jobs and significant export sales. Over the last three years, Wiegel has also been in inaugural cohorts to receive Apprenticeship Education Expense tax credits. The State program is designed to encourage and support the hiring and education of apprentices to meet workforce and training needs now and in the future, and Wiegel successfully supported seven apprentices through the program.

"Illinois and our local economies will greatly benefit from Wiegel's investments in the state," said Senator Laura Murphy (D - Des Plaines). "By creating new jobs to lowering carbon emissions, this agreement is an incredible example of the impact and success of the REV Illinois program."

"Creating a cleaner and greener future is a top priority for our state," said Representative Michelle Mussman (D - Schaumburg). "Wiegel will not only create jobs for hard working Illinoisans, but the company will also push us forward in the clean energy industry."

Wiegel's investment builds upon major REV agreements this year, including Crysalis Biosciences' first-of-its-kind sustainable aviation fuel (SAF) plant in Sauget, EV manufacturer Rivian investing $1.5 billion in Central Illinois to produce its highly anticipated R2 model, EV manufacturer Ymer Technology opening its U.S. headquarters in Buffalo Grove, EV battery material supplier Bedrock Materials locating its research and development headquarters in Chicago, and EV component manufacturer Wieland Rolled Products North America modernizing its East Alton facility - one of six across Illinois. These investments follow a banner year for economic development in the EV and clean energy sector, including Gotion's EV battery gigafactory in Manteno - which represents the largest manufacturing investment in decades and the largest EV battery investment to date, as well as REV agreements with Manner Polymers in Mt. Vernon, who is building a first-of-its kind solar-powered PVC compounding plant using clean energy generated on-site; Prysmian Group in Du Quoin, whose $64 million expansion will manufacture cables for the renewable energy and EV sectors; and Microlink Devices, which manufactures state-of-the-art solar cells and solar shields in Niles.

About Wiegel

Since 1941, Wiegel has been an essential business within Illinois. Most recently, companies have relied on Wiegel in order to produce battery pack modules/Current Collector Assemblies (CCA), battery components, and assemblies for battery storage systems. Wiegel also provides mass-production metal stamping services such as progressive die high-speed and heavy metal stamping, engineering support, in-house tool and die making, rapid prototype, waterjet cutting and automated assembly of parts. Operating on 284,000 sq-ft in 4 manufacturing facilities, we are IATF and ISO 14001 (Environmental Management Systems) certified and serve a wide range of industries around the globe.

To learn more about Wiegel, please visit Wiegel.com.