Business

Sarasota's Octex expanding, adding jobs

SARASOTA — He’s surrounded by construction every day but Octex owner Jim Westman knows it’s worth it.

A 26,000-square-foot expansion of his production facility is about halfway completed. The company, which manufactures precision injection-molded plastic components for the medical, electronic, industrial and consumer product industries, expects to spend $5.5 million to $6 million on the addition by the time it is completed in March.

Part of the funding for the expansion came from a $200,000 development grant from the Sarasota Economic Development Corp. The grant is tied to job creation and capital investment.

The facility on Sarasota Center Boulevard will be 59,000 square feet when completed and will include a clean room and quality assurance laboratory.

Since Westman bought the company in 2009, its revenues have gone from $5 million a year to an expected $19 million in 2011.

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