Local package going to council

The Jay County Economic Development Income Tax Advisory Committee agreed this morning to send a recommendation supporting an $87,500 grant package for a Portland expansion of Fort Recovery Industries.
“We did approve going to the (Jay) county council with an expenditure of $87,500 for use of Fort Recovery Industries from county EDIT,” said Jay County Development Executive Director Bill Bradley.
The financial package, Bradley said, would be the same one that was taken to and approved by the Portland City Council on Monday.
Fort Recovery Industries, which makes metal die-casting hardware, will occupy the spec building in Portland on county road 100 North. The expansion is expected to create between 20 and 40 new jobs with average wages of about $16 per hour.
The financial package includes “clawback” clauses, stating that if the company does not meet certain investment requirements, a percentage of the money must be paid back at a rate of prime plus 1 percent. If the requirements are met, the $87,500 will be treated as a grant.
The recommendation will be presented to the Jay County Council at its next meeting Wednesday.
In other business this morning, the advisory committee reviewed an updated capital improvement plan for the county.
“Every five years, we go to the cities and towns and get what their priorities are for the plan,” Bradley said. “The (Indiana) State Board of Accounts says that’s something we need to have.”
Bradley said the plan is “90 percent” the same as the previous plan. A draft of the plan will also be presented to the Jay County Council Wednesday.
The committee also held a discussion on a request from the Town of Bryant for EDIT funding to complete a sewer project.
The town is applying for a $600,000 grant from the Indiana Office of Community and Rural Affairs to do a sewer and wastewater facility upgrade and would need up to $150,000 in additional funding to make the upgrade a reality. Town officials had approached the Jay County Commissioners last week to discuss the project.
Bradley said board members chose to table any action on utilizing EDIT funds to aid Bryant until more information about the project became available.[[In-content Ad]]