Key things to know:
- Onshoring manufacturing played a key role in the expansion
- New facility is 225,000 square feet
- Over 200 jobs to be created
Phase Technologies was founded in Rapid City in 1999. They developed the world’s first digital phase converter called the Phase Perfect Digital Phase Converter. Today, they rely on a team of in-house power electronics and mechanical design engineers to develop innovative products.
Over the past 25 years, Phase Technologies has continued to grow and expand in Rapid City. In 2021, they moved to the fourth facility in the company’s history. At over 225,000 square feet it is more than 7 times the size of its previous location.
Much of this investment has been a result of Phase Technologies onshoring more of their manufacturing. Since that move, Phase has added over $5 Million in equipment and upgrades to the manufacturing operation and building. 214 new jobs will be created over the next 3 years, 79 already in 2023 alone.
“Phase Technologies expanded to its fourth and largest facility just over three years ago,” said Phase Technologies President, Nick Kingsbury. “All of this would not have been possible without the support of Elevate. Rapid City is truly a great place to live, play, and set up a thriving business.”
Through Elevate Rapid City’s Business Retention and Expansion program, Phase Technologies was able to secure several sources of funding. The Opportunity Capture Fund supported workforce grants as well as building and equipment purchases. A SBA 504 loan was another key financing partner through this expansion.
The Phase Technologies facility is located at 222 Disk Drive.
