Martin County's manufacturing scene picked up some serious horsepower in December. Power Systems Manufacturing, better known as PSM and now part of Hanwha Power, officially opened its North expansion facility in Stuart on December 11, 2025.
PSM isn't a household name, but it plays in a heavy-duty league. The company engineers aftermarket upgrades, retrofits and repairs for gas turbines, the big machines that generate electricity, including combustion systems and hydrogen decarbonization tech for the global power industry.
The expansion is about capability, not just square footage. The new facility deepens PSM's manufacturing, repair and service capacity for advanced turbine upgrades and customer support worldwide, all run out of Stuart.
The footprint lines up with a lease the company signed for a roughly 185,000-square-foot space at the South Florida Gateway Distribution Center in Stuart, a 10-year deal valued at over $22 million. That's a long-term commitment to staying in the 772.
"This facility represents more than physical growth. It reflects our commitment to our customers, our employees, and the communities where we operate," said PSM President and CEO Rafi Balta at the ribbon-cutting.
It fits a bigger Martin County story too. The county has been working to build out its industrial base after decades of scarce space, and high-skill anchors like PSM are exactly the kind of employer that strategy is chasing.
For locals, it's a reminder that not all the Treasure Coast's growth is warehouses and rooftops. Some of it is engineers and technicians building parts for power plants around the world, right here in Stuart.