Northern Iowa Die Casting, Inc.
Northern Iowa Die Casting Inc. manufactures aluminum and zinc die castings for equipment manufacturers. Although most of the company’s castings are used in the Midwest, a growing number are being exported throughout the World.
NIDC was first started in 1938, but by 1984 the company was nearly extinct. Joanne Stockdale had always wanted to own her own business and she saw potential in NIDC.
With the assistance of $100,000 loan from SBA, she purchased the business in 1984 and immediately began to turn things around. Joanne used six additional SBA loans over the years to purchase new equipment and to expand the facilities. One of these projects helped fund the building of a new 20,000 square foot facility that the company moved into in 1991. Three building additions have since been completed, and NIDC now consists of more than 50,000 square feet of manufacturing space for casting and secondary operations.
The company went from 6 part-time employees when Joanne first bought the business with an SBA loan in 1984 to a record level of 120 full-time employees in 2008. As it was for many manufacturing companies though, the Recession was a fluid and challenging time for NIDC. Under Joanne’s leadership, the company “weathered the storm” but had to cut back its full time employees to 80 in 2009. As sales have returned, NIDC is back to hiring and currently stands at 95 full-time employees, with additional employees expected to be brought on in 2011. The company had revenue sales of $14 million in 2008, and ales are expected to be over $10 million for 2010.