ANNUAL REPORT 2006 - MEDA

18
CHARLES W. POE AWARD
ENTREPRENEUR OF THE YEAR
Andy Wells
Wells Technology, Inc.
2006 honors
Andy Wells founded, owns and manages
Wells Technology, a manufacturer of precision
fasteners in Bemidji, Minnesota. A Native
American who was born and raised on the Red
Lake Indian Reservation, Andy has become a
leader, not only for his company, but also for
his community.
Through a high emphasis on quality and
craftsmanship, along with Andy’s astute
decision-making and visionary leadership,
Wells Technology has grown in sales from just
under $1 million in 2004 to over $30 million
this past year. He now employs 31 people,
many from the reservation where living wage
jobs are limited.
Through sustained growth and invaluable
mentorship from Fastenal, Wells Technology
produces enough profit to fund one of Andy’s
special interests – the Wells Academy, a
nonprofit organization, which trains and
employs Native Americans.
Andy also gives back through his roles on
numerous local boards, community councils,
economic development efforts and as mentor
to other entrepreneurs.
Andy is well thought of and admired in his
community, throughout his industry and the
state. Among many honors, Andy has won
the Eagle Award from the American Indian
Chamber of Commerce and the American
Indian Business of the Year from the United
Indian Development Association.
His customers’ high regard for Wells Technology is reflected in its award for “One Million Products with Zero
Defects” from Hi-Lex Cable Company and the “Supplier Appreciation Award” from BAE Systems.
MEDA congratulates Andy and looks forward to his continued success.