Illinois Gov. JB Pritzker was in Bushnell on Wednesday to announce the state’s investment in a long-time business.
Vaughan and Bushnell Manufacturing was on the verge of closing earlier this year after 155 years in business.
Fellow toolmaker Marshalltown then stepped in, and after months of negotiations, Marshalltown agreed to buy the Bushnell company, though details still had to be worked out.
Pritzker announced on Wednesday that a $5 million state grant will help Marshalltown complete the purchase.
“This city will continue to prosper, and the families of this region will have an opportunity to thrive,” Pritzker told employees and others who gathered for the announcement in the company’s handling and packaging warehouse.
The governor said his administration has worked to support businesses through the creation of incentive programs like this.
“It’s brought in billions of dollars to the state now, and helped us to preserve jobs that may otherwise have gone elsewhere,” Pritzker said.
The business is now called Marshalltown Hammer. Around 130 people work for it in Bushnell, spread among 14 buildings in the community.
It’s been in business in Bushnell for 155 years.
Joe Carter, President and CEO of Marshalltown, thanked the governor and others who made the grant possible.
“Without their help in getting us here, Marshalltown would not be here, we could not have been here. We know that was a huge deal,” Carter said.
Mayor Robin Wilt said there were dark days in the community when it looked like the factory might close. She said the investments by Marshalltown and the state preserved good paying jobs.
“Jobs that are raising families and buying homes, keeping people in their hometowns with a promise of better days ahead,” she said.
Wilt said Marshalltown’s acquisition of the company will strengthen the stability and growth of the region.
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