Stanley Black & Decker (NYSE: SWK) today announced the grand opening of its state-of-the-art Makerspace, a 4,500-square- foot workshop dedicated to helping Stanley Black & Decker employees bring innovative new ideas to life, as well as to serving as a resource for the Greater Baltimore community to engage in meaningful maker experiences.
Jeff Ansell, President of Global Tools & Storage for Stanley Black & Decker, said, "At Stanley Black & Decker, we are a company of innovators, makers and creators, and this new space will give our employees an environment where they can focus on turning their ideas into real working prototypes that will become the products of the future. Stanley Black & Decker is built on 175 years of innovation, demonstrated most recently with the launch of our revolutionary DEWALT FLEXVOLT® system. As we continue to grow organically and by adding the iconic American brand Craftsman and Lenox and Irwin businesses, we are excited to reinforce that commitment to innovation. By opening a new Makerspace right here in Maryland we are rededicated to not only inventing, but also making the innovations that will change the way we live tomorrow."
"Stanley Black & Decker's new Makerspace creates a collaborative environment where company employees can develop new products, and offers local students and educators access to state-of-the-art resources to pursue research projects," said Governor Larry Hogan. "Maryland's economy continues to be driven by innovation, and having cutting-edge workshops like this one is critical to growing jobs, spurring new advances, and helping our communities thrive."
The new Makerspace is another expansion of Stanley Black & Decker's Maryland-based presence, which began in 2010 when the Black & Decker company merged with The Stanley Works. Today, the company employs more than 2,100 people in the region, and has invested approximately $60 millionin facility upgrades. In addition, its growth plans call for nearly 400 immediate new hires in a wide variety of positions, with a focus on innovation and engineering.
Stanley Black & Decker has already partnered with local universities to develop a curriculum, framework and toolset for future Makerspaces and to offer a space for students and faculty to work on research projects. Ongoing partnership with these and other leading academic institutions will be a cornerstone of the company's continued engagement with the community. In addition, the company expects to expand this to a public-facing maker program sometime in 2018.
About Stanley Black & Decker
Stanley Black & Decker, an S&P 500 and FORTUNE 500 company, is the world's largest provider of tools and storage, the world's second-largest commercial electronic security company, and a leading engineered fastening systems provider, with unique growth platforms in the Oil & Gas and Infrastructure industries. Well-known brands include: STANLEY, BLACK+DECKER, DEWALT, Craftsman, Porter-Cable, Bostitch, Facom, Mac Tools, Proto, Vidmar, Lista, and more. Learn more at http://www.stanleyblackanddecker.com.
