Marshfield, MO, Feb 28, 2012 -- Architectural Components Group, Inc. will receive a $740,000 zero-interest loan to assist with financing the expansion of their manufacturing facility located in the Marshfield Industrial Park. The loan funding is provided in partnership with Webster Electric Cooperative through the USDA’s Rural Economic Development Loan and Grant (REDLG) program.
Architectural Components Group, Inc manufactures wood veneer products for commercial applications, such as interior walls, ceilings, and doors used in universities, hospitals, airports, and other commercial buildings throughout the United States. The company’s expansion project includes the purchase and renovation of a vacant manufacturing facility situated adjacent to their existing plant in the Marshfield Industrial Park. The vacant building was formerly occupied by American Products and has been empty for nearly three years. With the addition and renovation of the building, Architectural Components Group will expand their product lines to include furniture and acoustic ceiling products used in institutional settings such as dormitories and military barracks. More importantly, the expansion project will result in approximately 50 new jobs created, in addition to the 100 full-time employees already working in the company’s existing facility.
“We appreciate the opportunity to support the expansion of Architectural Components Group in partnership with Webster Electric Cooperative” said Janie Dunning, Missouri State Director for USDA Rural Development. “The Rural Economic Development Loan program is a vital tool for job creation in our Missouri communities”.
"Webster Electric Cooperative is dedicated to all of the communities it serves. Economic development will help sustain the future of rural America and our cooperative is defined by its ongoing participation in helping to provide opportunities to its membership" said Tom Houston, Webster Electric Cooperative General Manager.
Under the USDA’s Rural Economic Development Loan and Grant program, project funds are loaned to a rural electric cooperative at zero-interest. The electric cooperative then re-lends the funds for projects which create jobs and provide necessary infrastructure for economic and community development. Anyone seeking more information about the Rural Economic Development Loan and Grant program may visit the Missouri USDA Rural Development website at http://www.rurdev.usda.gov/mo or by contacting the Business Programs section at 573-876-9321.
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