Athens Economic Development Council receives award for Mold & Machine reopeningNovember 4, 2016
A local development council was honored for a project that reopened the Athens Mold & Machine Inc. on Mill Street.
The Athens County Economic Development Council (ACEDC) received the Best Project Runner Up award by the Ohio Economic Development Association (OEDA). The award was handed out at OEDA’s 2016 Annual Summit Excellence Awards on Oct. 20 and recognizes projects in economic and business developments that keep or create jobs.
The project was titled “Project Candy Mold.” The tire mold manufacturing company was closed in 2011 due to low-cost competition in Europe and Asia but recently reopened.
AMM Manager Samuel Thornton intended to reopen the company if the market permitted.
“As our market started to come back, we needed to grow production and knew restarting the Athens operation was the right decision,” Thornton said in a statement.
AMM committed to creating 60 manufacturing jobs in a three-year span upon reopening.
The project received $400,000 JobsOhio Revitalization Grant for facility and office renovations, in addition to a $50,000 Columbia Gas Jobs Growth Fund Grant, a $50,000 SOACDF Economic Development Grant and a $40,000 AEP Ohio Retention and Expansion Grant for facility and equipment upgrades.
The project also received funding for a roadwork expansion project along McKinley Avenue that included $300,000 in 629 roadwork funds, $500,000 from the Appalachian Regional Commission with an application from the Athens City Council for a required $250,000 local match and $750,000 from Ohio University as the roadwork project aligns with the university’s Comprehensive Master Plan.
In addition to grant funding, the Athens County Commissioners entered into an Enterprise Zone agreement with AMM, granting the company a 60 percent tax abatement on property improvements for up to 10 years, depending on the company’s job creation commitment.
“Manufacturing in Athens County has always been strong and will continue to be thanks to the creative collaboration of our many partners who together secured over $3 million in grant funding and tax incentives for this exciting project,” said ACEDC Executive Director Sara Marrs-Maxfield in a statement.
From The Athens County Messenger