By Sean Rice
Expansion plans have doubled for Accutech Films Inc., of Coldwater, a plastic packaging material manufacturer.
Mercer County Community Development Director Larry Stelzer said company leadership decided on an “expanded expansion,” increasing the total investment from $1.2 million to $3 million.
With funds coming from grants, loans and equity, the end result will be an additional 25,000-square-foot warehouse facility on site with an entire new line of manufacturing equipment, Stelzer said. In return for a $383,000 loan from the county revolving loan fund, the company vowed to create 16 new full-time jobs.
The county revolving loan review board will consider the $383,000 loan request soon. Stelzer said he thinks the board will approve the request due to their approval of Accutech’s initial request of $183,000, which was increased to the current amount.
The company made the expansion plans public a year ago, but the work was put off amid concerns about SARS and the world economy.
The larger expansion is needed at Accutech, “due to an ever-increasing backlog of orders from our customers, both new and existing,” the application for revolving loan funds states.
The village of Coldwater was approved for a $14,000 grant from Ohio Department of Development’s roadwork development (629) account. Added with a local investment of $10,000, the money will go toward a 300-foot roadway extension and water line extension.
Accutech also was approved for a Pioneer Rural Loan from the governor’s development office to help with the project. On Friday, construction equipment is on site and groundwork is already being laid.
“This is a very, very neat story. It this is a good deal for Mercer County and Coldwater, Stelzer said.