PRD To Add 21 Jobs By 2017

Last updated on Thursday, October 30, 2014

(SPRINGVILLE) - PRD, a Springville company that supplies plastic components for automobiles, lights, heating and cooling equipment and other products, will add 21 jobs by 2017 increasing their workforce to 143.

The company plans to invest $4.9 million into the company and add 12,000 square feet to its current facility. The investment includes 12 new injection mold presses to make plastic components for vehicle head and taillights and LED lights for buildings.

Lawrence County Council on the advice of the Lawrence County Economic Growth Council approved an incentive package for PRD.

The package includes:

$25,000 from the Lawrence County Economic Development Fund which was created from the sale of Dunn Memorial Hospital to be used for economic development.
$25,000 from the Lawrence County Redevelopment Commission which is funds from a Tax Increment Financing District, which PRD is a part of.
$272,920 over the life of a 10-year property tax abatement granted by the county council. That means PRD will pay no property taxes on the improvements the first year, 10 percent the second year, 20 percent the third year and so on.
$130,000 in state tax credits
$25,000 contribution from the Radius Indiana Regional Impact Fund.

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