Hillsboro-based Phoseon Technology, one of the fastest-growing clean tech companies in Oregon, announced this morning that it plans to expand its manufacturing capacity by 50 percent, adding jobs to an industry with great potential.
Phoseon has developed new way to dry and cure industrial products using ultraviolet Light Emitting Diode (LED) technology. It sells its diode-filled purple boxes to industrial businesses globally, with particularly strong sales in Germany and Japan. The market potential is huge, since many businesses need to dry and cure things during their manufacturing processes.
Since its founding in 2002, Phoseon has grown by an average of more than 50 percent annually, to the point where the company is running out of room. The expansion is scheduled to begin in January, growing the manufacturing center and administrative offices from 13,000 square feet to 20,000 square feet. Phoseon is also hiring; the company employs 35 people in Hillsboro and plans to grow to add 15 jobs by the end of 2011.
“We are very happy to announce this expansion of our Oregon headquarters and manufacturing facility,” said Bill Cortelyou, Phoseon President & CEO in a prepared statement. “Phoseon is a true Oregon success story – Oregon entrepreneurs and significant Oregon venture funding have made the success possible. We plan to continue to grow in Oregon – bringing much needed manufacturing, engineering and other professional job opportunities to the local economy.”
Of course, 15 new jobs mean little when stacked up against the 26,463 jobs the private sector lost in Multnomah County over the past decade. But the success of Phoseon shows there are niche areas of significant potential within the general fog of the Oregon economy.
Ben Jacklet is managing editor of Oregon Business.