Local News - December 2003

County seeks to entice Timken with incentives

Published December 3, 2003

By ALICE SMITH, Staff Writer

————————————

County commissioners Monday night approved two incentive packages that they hope will entice an international company to make millions of dollars in investments to its Lincoln County plant.

The Timken Company, based out of Canton, Ohio, is looking to add two new manufacturing lines to one of its plants.

The Lincolnton Bearings Plant is in the running  for the two lines, which would add at least 30 new jobs total, paying an average of $15 per hour.

Commissioners agreed to offer Timken nearly $245,000 if the company chooses Lincoln. The grants would be paid out annually over a five-year period.

The incentives could likely play a role in the company’s decision, said Laura Foor, existing industry coordinator for the Lincoln Economic Development Association.

“Timken is competing with other facilities for these two projects, and what they’re hoping this grant will do is be an incentive for Timken’s corporate offices out of Ohio,” Foor said.

“(The grants) have been one of the determining factors in giving Lincoln some of the other projects they’ve gotten.”

In March, the Board of Commissioners approved grants for a $3.5 million equipment and machinery expansion that created 20 new jobs.

In June 2002, Timken made a $16.3 million investment in the plant to expand its manufacturing technology, after the county offered an incentive package. The upgrade created 44 jobs.

“This is just another example of the county’s commitment to working with existing industry,” Foor said.

Timken employs 640 people full-time. Sixty percent of those are Lincoln County residents.

In other business, the board:

·  Agreed to spend up to $2,300 on improvements to the historical coordinator’s office. The improvements include hanging sheetrock, putting down a base board and running crown molding through a hallway and three upstairs rooms.

·  Voted that Commissioner Tom Anderson take over as vice-chairman of the board. Commissioner Larry Craig was voted vice-chairman last December.

·  Heard from Robert Cantwell, who is interested in purchasing the former city recreation center at 119 E. Pine St. There is some question about whether the city or county owns the building.

·  Approved the 2004 meeting schedule.

——–———————

© 2001 Lincoln Times-News  

Terms and Conditions