MINNEAPOLIS, June 24, 2005 – Polaris Industries Inc. (NYSE/PSE: PII) today
announced the opening of its new 126,000-square-foot Product Development
Center located in Wyoming, Minn.
Research, development and testing at the facility will include prototype
fabrication and assembly, laboratories for structural testing, electrical
development, materials engineering and Powertrain assembly and dynamometer
testing. Future enhancements will include a noise and vibration laboratory
and test tracks for motorcycles and all-terrain vehicles. The $35.5 million
facility is essential for Polaris to continue its long tradition of product
innovation, which is critical to the company’s competitive future.
“This is the single largest investment Polaris has made in product
development, and it demonstrates our commitment to creating top-of-the-line,
high-quality vehicles for people who love to ride their Polaris or Victory
product,” said Polaris CEO Tom Tiller. “In selecting Wyoming for this
facility, we also are showing our commitment to the State of Minnesota,
where our company began and continues to thrive. We look forward to the
partnership we’ve developed with Governor Pawlenty and the Department of
Employment and Economic Development, and I’m confident that through the JOBZ
program, we will be able to build our company and our brand in Minnesota.”
Polaris’ expansion in the region will create a significant positive economic
impact on Chisago County and the City of Wyoming, including the employment
of 143 engineers and 54 managers, administration and other staff at the
facility by the end of 2005. That number is expected to grow to nearly 300
employees during the next 10 years. Projected future employment growth will
result in a total facility payroll estimated to reach $10 million in 2005,
and expanding to nearly $18 million by 2015.
“Polaris is bringing the kind of jobs and high-quality work we need for
Minnesota’s economy to grow,” said Gov. Tim Pawlenty.
The Wyoming facility was designed to achieve LEED Certification (Leadership
in Energy and Environmental Design). This design approach includes such
characteristics as a sustainable site with light pollution reduction and
storm water management; water efficiency such as efficient landscaping and
water use reduction; energy and atmosphere considerations like minimum
energy performance; materials and resources management like diverting
construction waste; and indoor environment quality such as carbon monoxide
monitoring and use of low-emitting materials.