On Nov. 5, Ring Power Corp. hosted a ceremonial groundbreaking at the site of what will be its new St. Augustine, FL, facility.
The 354,000-sq.-ft. facility will be the cornerstone of The World Commerce Center, a new industrial park that is expected to be a vital part of the St. Johns County business community.
The Jacksonville, FL- based dealer is building the facility on a 54-acre lot near the World Golf Village. It is expected to employ 300 to 550 people after its anticipated completion in late 2004.
Construction has been on a fast track and 250,000 yds. of dirt have already been moved, Randal Ringhaver, Ring Power president, told the St. Augustine Record.
The $27-million investment in infrastructure and $10 million in equipment is the biggest investment in company history, he said.
The building will be the administrative center for Ring Power and Ringhaver Equipment Company, the exclusive Caterpiller dealer in central Florida.
A Lowes Home Improvement Warehouse will fill Ring Power’s current 38-acre location at northwest Philips Highway and Baymeadows Road in Jacksonville, but the dealership will keep a Ring Lift truck operation on the corner of the property, the Florida Times-Union reported in September.
Ring Power was founded in 1961 by L.C. “Ring” Ringhaver as a Caterpillar engine-only dealer. Headquartered in St. Augustine, the company became a full-line Caterpillar dealer in 1962 and relocated its headquarters to Jacksonville.
Currently, Ring Power employs more than 800 people at its locations throughout North and Central Florida. Its specialized divisions include Heavy Equipment, Ring Power Systems, Ring Lift, Ring Rent and Ring Used Parts –– all provide a wide variety of equipment for buying, leasing or renting.