Perspective from a CEO

A Bright Future for Anderson: Perfecto is Part of Current Trend

By Andy Skaggs, President and CEO, Perfecto Tool & Engineering Co.

Looking back, Anderson, Indiana, has faced significant economic challenges derived from the disinvestment in manufacturing in the United States. Experiencing over a 20% decline in population since 1970 and losing over 25,000 General Motors jobs, our community was left with vacant industrial sites and limited job opportunities.  Safe to say, the last 50 years have not been easy for our community.

At Perfecto Tool & Engineering, we believe Anderson’s best days don’t have to be behind us—in fact, we see a bright future.  Since 1955, we have called Anderson home.  We provide a wide range of solutions including precision CNC machining, prototyping, and production manufacturing for complex components and subassemblies across a variety of industries. In addition to machining, Perfecto designs and builds custom automated assembly equipment.

Like many local small-scale employers, we faced a choice: maintain the status quo or double down on Anderson’s potential.

With the help of the federal New Markets Tax Credit (NMTC) program, STAR Bank, and the steadfast support of city leaders, we chose to reinvest our resources and grow. What began as a plan for a 30,000-square-foot expansion to our existing 30,000 square-foot 53rd Street facility has become a transformational 90,000-square-foot new construction project on a remediated former GM site. Total investment will exceed $17 million, including $3 million for state-of-the-art equipment, and result in the creation of 50 new jobs for local residents. The project also strengthens our apprenticeship programs, providing pathways to rewarding, skilled careers.

This growth isn’t just about Perfecto — it’s about the belief that Anderson can thrive as a hub for advanced manufacturing. STAR Bank, the City of Anderson, and the NMTC program made the financial part of this project a reality.  The NMTC program bridged a critical financing gap and attracted the capital needed to breathe new life into an old industrial corridor. It’s proof that, when public and private partners work together, we can turn otherwise unusable vacant lots into productive facilities and family-sustaining paychecks.

At Perfecto, we’re proud to continue our investment in Anderson because we believe in our team and the community.  We are grateful for the collaboration that made this new facility and our small business’s expansion a reality. We’re excited to see Anderson grow into its potential as a destination for manufacturing and small businesses!