Grant & Loan Awards: Warren County


Warren County

Equity Fund: $500,000

Awarded: 05/09/2003

Applicant: Warren County Development Authority

Equity funds to refurbish machinery to operational standards to support the re-opening of Wheland Foundry in the only county with a dougle digit unemployment rate. The company anticipates re-hiring 94 employees within 12 months and 225 employees within four years. Livingston Company, a merchant banking firm, will serve as the principal developer and majority owner of the gray iron foundry. The plant will produce automotive parts including brake drums and rotors.

Total Budgeted Project Cost: $6,950,000

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