Dry-ice technology pioneer Cold Jet said it plans to invest $4.9 million in a new facility that will house company headquarters, manufacturing, and production under one roof. The move is needed, the company said, to meet demand — during the last two years, Cold Jet has experienced 18% year-over-year growth.
Cold Jet’s workforce reportedly has grown more than 30% during the last 10 years and the company said it benefits from "an exceptionally low attrition rate" thanks to a corporate culture rooted in employee empowerment. “We have now physically outgrown our spaces and look forward to moving into one facility that embodies Cold Jet’s culture,” said Michelle Simpson, Chief People’s Officer. “Our new facility will be functional, environmentally friendly, customer focused, and overall the best place to work.”
Cold Jet plans to consolidate its two Cincinnati facilities into a newly renovated building in Loveland, OH, by the end of August 2023. Creating a world-class facility will help to attract employees and customers, allow for product demonstrations, and enable growth of production capacity and staff, said Cold Jet in its announcement. Cold Jet’s expansion is one of 10 Ohio projects approved for municipal assistance that are expected to create more than $318.4 million in investments, as announced by Ohio Governor Mike DeWine on Aug. 29. Cold Jet said it is creating 67 of the 767 new jobs the project will produce in Ohio, generating $5 million in new annual payroll, and retaining 120 of 2,032 jobs in the state.
“While Cold Jet has grown to 300 employees with 13 centers of excellence in 10 countries, our roots are in Cincinnati,” said Christian Rogiers, Senior Vice President, Global Marketing. “Our new global headquarters will serve as a true reflection of Cold Jet’s innovative, green technologies as well as our people’s values.”
Gene Cooke III, President and CEO, commented: “At Cold Jet, we are more collegial and collaborative, and less formal than some other companies might be, and we translate that into our supplier relationships. We’re not looking for last-dollar negotiations; we’re looking to build business partnerships that enable us to be responsive to our customer base, but also respectful of the business objectives of those suppliers. That means availability of the right material, at the right time, takes precedence over cost per unit and payment terms.”
Cold Jet supplies dry ice blasting technology to a range of industries, including food and beverage, automotive, and contract cleaning. For plastics processors, it offers a non-abrasive in-place method for cleaning injection molds at operating temperatures, without water, chemicals, or the creation of secondary waste. The company also supplies dry ice and associated production equipment for cold chain management, life sciences, and other applications.