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Bluefield business expanding |
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Richlands News Press
Tue Nov 25, 2008 - 09:19 AM
By JIM TALBERT\Staff
BLUEFIELD – A
loan from VCEDA will help a county business expand its facilities and add jobs.
At its Nov. 20 meeting, the Virginia Coalfield Economic Development Authority
affirmed action it had taken in August and authorized a loan for Pemco, Inc.
The $557,363 loan will help the company expand its plant and purchase
additional equipment. The expansion will allow the company to add new jobs and
retain employees already working at the facility. Pemco plans to add 5,000
square feet to its 100,000 square foot building.
They also plan to purchase new equipment including a 20 ton overhead crane.
Economic Development Coordinator Margie Douglass said this is the third time
Pemco has expanded with assistance from the Coalfield Economic Development
Authority.
The company used a $200,000 loan from VCEDA in 1997 for expansion and expanded
again in 2003 with a $400,000 loan from the same organization. Douglass said
the company has expanded at least two other times without assistance from
VCEDA.
She said this current expansion will enable the company to retain 25 jobs and
add 27 in the near future. Pemco has been in business since 1960 and in its
present location in the Bluefield
Industrial Park since
1966. They currently employ 113 people fulltime.
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