The Board of Directors for the EDC of Wayne County approved EDIT applications for both companies in their regular board meeting. J. M. Hutton Company, Incorporated will receive $18,080 to put toward the purchase of a building and equipment and Vandor will receive $15,640 to put toward the purchase of new machinery.
J. M. Hutton Company, Incorporated, a casket and metal stampings company, is purchasing an adjacent building and new laser cutting machinery. The new machinery will allow the company to perform work in-house rather than outsourcing to other locations. The company is investing over $675,000 and creating 11 full-time jobs. They currently employ 94 people.
Reel Options, a division of Vandor Corporation, is purchasing new machinery to add a new product line creating 16 new full-time jobs with an investment of $975,000. The Reel Options brand was developed by Vandor in 2000 to provide packaging reels injection molded from reprocessed plastic. The new machinery will allow the company to produce plywood reels and utility spools. The company serves the electrical conductor, wire and cable and cordage and hose industries. Vandor Corporation specializes in custom chipboard and corrugated fiberboard components for the funeral industry. They currently employ 65 people.
“Richmond and Wayne County is fortunate that in the current economic climate we have companies finding opportunities to create investment and jobs,” says Richmond Mayor Sally Hutton. Hutton continues, “It just proves how important our existing businesses are to our community and we’re thankful they made the choice to expand their companies in Richmond.”
Kevin Ahaus, chairman of the EDC of Wayne County Board of Directors says, “Once again our existing businesses demonstrate how important they are to the county’s economy. In a time when attraction projects are few, our existing businesses are finding ways to create growth and jobs. The EDC of Wayne County is happy to be partnering with our existing businesses as they create opportunities and growth.”
Since January of 2009, the EDC of Wayne County through its EDIT fund has assisted existing businesses in the commitment to the retention and creation of over 140 jobs and provided training assistance funds to 10 companies. These projects have resulted in over $11 million in new investment in Wayne County. The county’s consolidated EDIT fund comes from funding provided by partnering towns in Wayne County who have agreed to provide half of their EDIT proceeds yearly for county-wide economic development.
Partners in county-wide economic development currently include the towns of Cambridge City, Centerville, East Germantown/Pershing, Milton, Mt. Auburn, Richmond, Whitewater and Wayne County.