CAMDEN — Sierra Peaks Corporation, an Albuquerque, N.M.-based company that develops and manufactures acoustic miniature microphones and other communications-related devices, purchased the assets of IntriCon Tibbetts on Colcord Ave. in Camden in January, and now with official state support, the company hopes to expand business there.

According to the Maine Department of Economic and Community Development, Sierra Peaks, a design, prototyping and fabrication company, anticipates to invest $3 million over the next 10 years in the Camden facility, which has been operating since 1945, manufacturing magnetic telecoils and miniature electro-acoustic transducers, including receivers and microphones.

The products made by IntriCon Tibbetts had been used in hearing aids, pacemakers, cell phones, airplane pilot headsets, and law enforcement and security surveillance equipment, such as microphones and recording devices.

Going forward, Sierra Peaks Tibbetts will concentrate solely on manufacturing microphones, as well as conducting government contract work.

“Designing and building systems,” said Sierra Peaks President John Rockwell, declining to specify further what those systems might be.

According to his company, Sierra Peaks has been a leader for 50 years in designing, developing, manufacturing, and testing unique electromechanical systems for the U.S. government, military, law enforcement, and commercial sectors including the aerospace, automation, and biometrics industries.

Rockwell said he acquired the assets of Tibbetts Jan. 27 and immediately hired 30 employees, continuing their employment. Sierra Peaks is leasing the real estate on Colcord Ave. from Barlett’s Bay Company, a Vermont-based entity. The buildings there cover 29,000 square feet and houses a tool and machine shop, technical library, test chambers and labs.

Rockwell learned of Tibbetts because that company is a direct competitor of Sierra Peaks.

“We knew of each other,” he said.

When IntriCon, based in Minnesota, decided to sell its Maine Tibbetts assets, Sierra Peaks picked up the ball.

“With the great help of Brian Hodges,” he said.

Hodges, who is Camden’s development director, worked the connections after Rockwell called the town office last year. He got the company established in the state’s Pine Tree Development Zone program, which offers eligible businesses the chance to greatly reduce or virtually eliminate state taxes for up to ten years when they create new, quality jobs in certain business sectors or move existing jobs in those sectors to Maine.

“Camden is very excited to partner with Sierra Peaks Tibbetts to keep this business and jobs here,” said Hodges, April 23.  “I was first introduced to John Rockwell when he called me last October to tell me his consideration of purchasing Tibbetts.  John stated ‘I’m considering buying Tibbetts; tell me why I should keep the business and jobs in Camden.’  I was able to not only explain the many assets we have but also bring many of Maine’s incentive programs to bear because of my government background.  Some of the efforts I’ve made include hands on assistance with obtaining Pine Tree Development Zone certification, a series of meets and greets with key members in the community, and arranging site visits by representatives focusing on workforce development programs and commercialization of new technologies.  As John and his team implement their plans, their needs will continue to evolve and grow.”

On April 23, the Maine DECD announced the state’s investment in Sierra Peaks.

Those Pine Tree incentives include exemption of state corporate income taxes for five years, and a 50 percent credit for the same tax for the following five years.

Other incentives include:

• Sales and Use Tax (100 percent Personal Property Exemption, Years 1-10): the tax exemption benefit, effective the later of July 1, 2005 or date of certification, derives from the qualified business paying no tax on all new tangible personal property purchases for its qualified business activity;
• Sales and Use Tax (100 percent Real Property Reimbursement, Years 1-10): the tax reimbursement benefit, effective the later of July 1, 2005 or date of certification, derives from paying no tax on all new tangible property purchases that are to be physically incorporated in, and become a permanent part of, real property of a qualified business and used in its qualified business activity;
• Access to reduced electricity rates as requested by Central Maine Power, Bangor Hydro Company and Maine Public Service and approved by the Public Utilities Commission

IntriCon acquired Tibbetts Industries in 2007 in a $4.5 million cash sale agreement, growing a company that was originally established in 1945 by Raymond Tibbetts. At that point, the company had 80 employees. Since then, the workforce at the Camden manufacturing plant was reduced to 60, then to 30.

Rockwell said his hope is to grow the company and hire more.

“It depends on sales,” he said.

"I commend Sierra Peaks for its substantial and welcome investment in Knox County," said Governor Paul R. LePage, in an April 23 press release. "My administration stands ready to demonstrate to the company that Maine deeply appreciates its investment and will work hand in glove with them to make certain that they are able to grow and thrive in our state."

"Building a business in Maine is a great opportunity for us; we are very excited about the new business development that will result from our partnership with Camden and the State of Maine," said Rockwell.

Hodges said: “The town stands ready to continue their partnership in supporting Sierra Peaks Tibbetts.  This is a great example of how a dedicated municipal employee focusing on economic development brings value to a community and surrounding region.”

Editorial Director Lynda Clancy can be reached at lyndaclancy@penbaypilot.com; 207-706-6657