A company that was Newton and Jasper County’s largest employer is preparing to come back to the community later this year. Windblade manufacturer TPI Composites of Scottsdale, Arizona will be re-opening the same plant they occupied for thirteen years, and closed at the end of 2021. The closure ended 700 jobs, and occurred at the conclusion of a contract between TPI and General Electric. 

Now TPI is proceeding with a $3.2 million rehabilitation of the 335,000-square-foot windblade plant, due to a new ten-year agreement with General Electric. The new contract was announced late in 2022. Newton Development Corporation Executive Director Frank Liebl says the length of the contract is beneficial to both TPI and the City of Newton.

“I remember working with them in years past when they would get an 18 month or 12 month contract. They couldn’t plan for the future a lot. But now, with the 10 year contract, that gives us some time to plan and they can do so many different things with that length of a contract.” 

A five-year, $500,000 forgivable loan through the Iowa Economic Development Authority’s High Quality Jobs program is part of this project’s financing. Iowa Economic Development Authority officials say two production lines will get updated equipment and technology, and TPI hopes to resume manufacturing as early as June. At least 320 jobs paying a qualifying wage of $23.81 per hour are expected to be created.