“What’s even more important is those resources help them to maintain what they have, their workforce and their expansion,” Mayor Amy Brewer said.
In February 2014, the authority and ADVICS reached an agreement on expansions including two additions totaling 65,000 square feet for a plant producing electronic-stability control components and an 18,000-square-foot expansion of the disk brake caliper plant.
In September 2014, the authority and ADVICS amended the agreement to include a 16,000-square-foot facility for lockers, restrooms and lunchrooms at the Lebanon facility. In May 2015, a 3,200-square-foot office was added to the agreement.
“ADVICS has been an incredible industry for Lebanon,” Brewer said. “The community is blessed to have such a phenomenal company.”
The resolution and agreement to be approved Wednesday by the port board also covers preliminary design and plans, as well as up to 150,000 square foot in the building.
ADVICS is to pay the port authority a $65,184 “transaction inducement fee,” as well as $22,500 in attorney fees and cover any other recording or other costs.