Monday, April 21, 2014

Joplin City Council approves $1.2 million loan to Able Manufacturing

The Joplin City Council moments ago approved by an 8-0-1 vote a $1.2 million loan from the city's Economic Development Fund to Able Manufacturing.

The loan is for five years with an option to extend it for two additional years, and will enable the company to add 43 jobs. Nineteen have already been added, company President Dan Hillenbrand told the council, adding $1 million to the company's payroll.

The money will come from the city's Economic Development Fund.

Able is making $2,424,000 worth of improvements at its Joplin plant.

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