The Jamestown Neighborhood Development Corporation recently received $500,000 in grants for equipment and machinery maintenance for six businesses under the American Rescue Plans Act.
The six companies receiving funding under the Tool and Machinery Innovation Grant are Colecraft Commercial Furnishings, Dawson Metals Co., El Greco Woodworking Inc. and the Crown Street Roast Company. The Crown Street Frying Company's project was much smaller and more expensive than other companies' projects, so each applicant received $92,500.
“The purpose of the Tools and Equipment Grant is to help private companies benefit from equipment used to improve manufacturing, production system efficiency, and other areas of the manufacturing industry.” — Tim Odell. He informed the grant manager of the development department about this.
Applications for the Odell Grant are accepted from February 24 to March 24. So far, 18 companies have been contacted directly about the application process. City Development Director Crystal Sardi said the grants program is open to any Jamestown business, and 18 businesses that had previously expressed interest in possible citywide grant opportunities have been notified directly by the city.
Six of the seven companies that applied for equipment and machinery innovation grants were approved by the development department and recommended to the JLDC Board of Directors for final approval.
Before the JLDC considered grant applications, O'Dell highlighted the potential impact of six applicants.
“Only for some statistics based on these six applicants, the total estimated number of jobs they chose in their applications would be 29 full-time positions and three part-time positions,” he said. “Based on how many people work for these companies, 163 full-time jobs and five part-time jobs will be saved.”
The project proposed by Colecraft Commercial Furnishing is expected to cost $361,792. Odell said the company plans to create 10 more full-time jobs. Colecraft Commercial Furnishing currently has 30 full-time employees. Business improvements are expected to increase production capacity by 400% and reduce direct labor costs by 50%.
Dawson Metal Company plans to hire three more full-time employees as part of the $134,900 project. The company currently has 78 full-time employees. Odell said the new equipment, which will be purchased as a gift, will help Dawson Steel Co. become more competitive, serve new customers and increase sales.
El Greco Woodworking will complete the $143,952 project. As part of the grant, El Greco Woodworking plans to hire two full-time employees to better handle the high volume of purchase orders. The company has 17 full-time employees. Support for new devices allows the company to launch a new category of sales.
“It should also be noted that El Greco earns 100 percent of its income outside of Jamestown and Western New York, and that every dollar donated to this area comes from outside sources,” Odell said.
International Ordnance Technologies expects the $226,600 project to create 5 to 10 full-time jobs. The company currently has 23 full-time employees and one part-time employee. The equipment purchased under the grant will allow International Ordnance Technology to purchase equipment, increase production and make the company more efficient and competitive.
The National Wire and Metal Tech project is expected to cost $320,000. Odell said the company will create four new full-time jobs. The company currently has 15 full-time employees. The grant funding will allow National Wire & Metal Tech to purchase new equipment, which will significantly increase the efficiency of new and existing customers.
The Crown Street Frying Company project is expected to cost $50,000. The company plans to create three new positions in addition to two regular positions and five positions. The Crown Street Roasting Company is seeking to acquire larger and more advanced equipment, such as a new roaster that is three times the capacity of the existing roaster, to reduce production time and increase plant capacity.
After the presentation, O'Dell Cerdyk explained that the Equipment and Machinery Renewal Grant Program covers up to 75 percent of the JLDC grant, including 25 percent reimbursement to applicants.
According to Serdike, the $92,500 grant from the Ministry of Development for five of the six recipients fell short of the actual ratio by 75%, as the amount was set to approximate the maximum amount . " . " while staying within the $500,000 grant program allocation. On the other hand, the $37,500 Crown Street Roasting grant represents the "amount" the company received along with the project application.
Ahead of the vote, city council member Kim Eklud, R-At Large, asked if large business applications could get additional funding to cover the cost of the projects. Serdike said companies have received additional funding to complete projects.
Mayor Eddie Sanquist also reminded JLDC board members that the job numbers listed on applications are " standards" that companies must meet.
The JLDC Board of Directors has unanimously agreed to approve every business application for the Mechanical Engineering and Engineering Innovation Grants Program.
