By Leslie Collins
Northeast News
September 21, 2011

President of Standard Sheet Metal Greg Ryder toyed with the idea of purchasing a state of the art laser cutter. Then, he thought about the cost, which put a halt to the purchase.

However, thanks to a $590,000 low interest loan through the Missouri Linked Deposit Program, the Historic Northeast company was able to purchase the laser cutter, the Mazak HyperGear 612.

“It’s (loan) the only reason why we pulled the trigger,” Ryder told Northeast News.

State Treasurer Clint Zweifel announced the loan award during a press conference Sept. 15 at Standard Sheet Metal, 405 Olive St.

Not every company owns a Mazak HyperGear 612, said Rodger Sutek, service engineer for Mazak.

Only four of these laser cutters exist in the U.S. and the one in Kansas City now makes five.

The laser cutter can be used for a variety of projects, including cutting duct work for heating and air conditioning systems, tractor attachments, perforating steel panels, decorative metal designs, among other uses, Sutek said.

“This machine can do so much. The possibilities are unlimited,” Ryder said. “This piece of equipment is what our industry needs to continue.”

Not only will the laser cutter allow the company to fabricate products more quickly, it will allow them to garner more contracts for work, Ryder said.

“We know when a company invests in keeping its competitive edge, that’s good for the workers right here. We know Greg and his team are doing great things with these loans,” Zweifel said.

For nearly 30 years, Standard Sheet Metal has operated in Kansas City and currently employs 77 people. Standard Sheet Metal’s main focus is on construction projects and has shipped its products across the U.S., including the North and South Poles.

Standard Sheet Metal has worked on projects like the Power and Light District, Municipal Auditorium, Kemper Museum of Contemporary Art, among others.

Through the low interest loan, Standard Sheet Metal will save an estimated $50,000 in interest over the next five years, Zweifel said.

That means more money to invest in employee training and needed equipment, he added.

In 2 years, the Missouri Linked Deposit Program has awarded nearly $800 million in low interest loans and impacted 14,000 jobs and farms, Zweifel said.

“That’s a real impact for the businesses that are the building blocks of Missouri’s economy – businesses that are providing the job growth for Missouri’s economy.”