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Two economic incentive grants approved

07 June 2017

By Andrew Martin, The Enquirer Journal

Two Step 2 Economic Development Incentive Grants were approved during the June 5 Union County Board of Commissioners Meeting.

Project Spur (American Wick Drain Corporation), which requested an amount not to exceed $200,100 over a five-year period, has a grant factor of 2.3 percent based on the company’s anticipated $8.7 million investment in Union County in the form of new equipment, machinery, and building expansion. The minimum investment is expected to be no less than $2 million, according to the Board agenda.

 

American Wick Drain Corporation has been in Union County since 1998 off Airport Road and employs around 50 employees. The company manufactures foundation drain projects and systems for building constructions, athletic fields, and highways. In addition to the monetary investment gained, the company expects the expansion to add a minimum of five new jobs, said Christopher Platé, Executive Director of Economic Development.

The Step 2 Development Incentive Grant has been an important part in the decision process as American Wick Drain Corporation has a competing development site in Nevada, Platé said. The project, if developed in Union County, could generate approximately $333,427 over the same five-year period, according to the agenda.

The second Step 2 Grant was approved for Project Rotar (ASSA ABLOY Entrance Systems), which requested an amount not to exceed $138,000 over a five-year period. Like the previous Project Spur, the grant amount was calculated through the grant factor of 2.3 percent of the company’s anticipated $6 million in equipment, machinery, and building expansion. Also like Project Spur, the minimum invested is expected to be $2 million, according to the agenda.

ASSA ABLOY Entrance Systems is a Sweden-based automated entry door manufacturer that has been in Union County off Airport Road since the 1970s. The company employs around 200 employees and makes auto entry doors for retail, medical, and office buildings, with clients including Krogers, Walgreens, and Publix. Like Project Spur, the ASSA ABLOY expects the investment would create a minimum of five new jobs, according to Platé.

If developed in Union County, the investment in ASSA ABLOY could generate approximately $229,950 over the five year period, according to the agenda.

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