Marshalltown Hammer receives $5 million state grant for Bushnell expansion

BUSHNELL — The State of Illinois has provided a $5 million grant to enable Marshalltown Hammer to acquire and establish operations in the former Vaughan & Bushnell facility.

“Economic prosperity for the working families of Illinois ought to be our state’s North Star,” said Governor JB Pritzker. “Today, we celebrate an important milestone, securing jobs, facility improvements for this storied institution. Thanks to the collaboration of state and local partners, the resilience of the people of Bushnell, the great folks at Marshalltown Hammer, and an assist from the Illinois Department of Commerce and Economic Opportunity – the city will continue to prosper, and the families of this region will have an opportunity to thrive.”

After 155 years of operation in Illinois and five generations of the Vaughan Family at the helm of the Vaughan & Bushnell Manufacturing Co., the State of Illinois assisted Marshalltown Hammer, a wholly-owned subsidiary of Marshalltown, in acquiring the Vaughan & Bushnell Company to preserve good-paying jobs and economic opportunity in the area.

“Today, we are shining light on a century-old legacy in Bushnell – American-made tools manufactured right here by generations of Illinoisans have built the places and spaces where we work, live and play,” said DCEO Director Kristin Richards. “Marshalltown Hammer’s success story is a true testament to what it means for government to work with our economic development and corporate partners and do what we do best: invest in a sector that is key to Illinois’ economy, and invest in our neighbors, who call Western Illinois home.”

“Marshalltown Hammer sincerely thanks Governor Pritzker and the State of Illinois for their courage to step forward and keep the legacy of Vaughan alive,” said Marshalltown President and CEO Joe Carter. “Without that help, Marshalltown Hammer could not and would not have taken on this major challenge to save these jobs and breathe life back into this 155-year-old company. This is not only good for the people of Illinois, but the people in the USA.”

With the acquisition and support from Illinois, Marshalltown Hammer has committed to retaining at least 100 full-time jobs at its Bushnell facility, investing in updating manufacturing equipment, and rebuilding the inventory needed to continue to manufacture tools at this site. Facility improvements includes purchasing of material handling equipment, production equipment repairs, and installing robotic grinding.

Since the Marshalltown Hammer acquisition, the quality of work life has improved for employees, with increases in wages, improved health care plan with more affordable benefits, coverage of outstanding medical debt from previous owners, maintaining the years of service for each employee as it pertains to retirement, and reestablishment of a competitive Employee 401(k) Retirement Plan.

“The City of Bushnell is honored to welcome Governor Pritzker to our Community,” said Bushnell Mayor Robin Wilt. “The opportunity that Marshalltown Hammer has been given to strengthen the stability and growth of our area is tremendous!’’

“Governor Pritzker’s announcement today ensures that Marshalltown Hammer will continue the legacy of hammers being manufactured in Bushnell, while also saving over 100 jobs in our region,” said MAEDCO President and CEO Kim Pierce.

“Illinois has a rich manufacturing legacy which is embodied in this 155-year-old company where employees make hammers, pry bars and hand tools that are proudly labeled as Made in America,” said Mark Denzler, president & CEO of the Illinois Manufacturers’ Association. “Today’s investment by Governor Pritzker builds on their amazing legacy and will ensure that these world-class products continue to be made by hard-working Illinoisans.”