A $2.5 million capital investment by Stamped Products Inc. will mean 12 new jobs for the area, Gadsden city officials said Tuesday.
The City Council on Tuesday approved tax abatements for the company from non-education property taxes and non-education construction related taxes.
According to council documents, the total capital investment for the project is $2,486,920. Most of the investment is for equipment.
The project is expected to add four jobs initially, and a total of 12 jobs over three years.
Stamped Products President Harold Weaver said the company currently employs 160.
By Andy Powell
Times Staff Writer