News Archives for June 2015
New projects in the City of Gadsden
29 IDA projects are operating today in the City of Gadsden. They:
• Created 2,440 jobs (this is 50% of the manufacturing employment in Etowah County.)
• Have a $65,000,000 payroll.
• Generate $1,300,000 per year in new OLF revenues.
• New OLF revenues alone provide a 3-to-1 return on the city’s $425,000 annual investment in the IDA.
Mayor Sherman Guyton says Gadsden is more than holding its own when it comes to job growth.
The Gadsden City Council on Tuesday voted to amend a tax abatement to support an expansion of Prince Metal Stamping USA Inc. that is expected to bring about 65 jobs to the area.