Board releases funds for Niles company

Special to The Vindicator

COLUMBUS

The state Controlling Board has released $750,000 in low-interest financing for a growing Niles company.

NMC Metals Inc., 310 North Pleasant Ave., will use the Research and Development Investment Loan to purchase new machinery and equipment, such as an expanding line.

In return, it will create 15 full-time jobs for positions such as machine operators and retain another 15 that are at risk at the Trumbull County facility.

“The Research and Development loan program ensures that companies such as NMC can continue to compete,” said Sen. Capri S. Cafaro, D-Hubbard. “This loan will create more high-tech and higher-paying jobs for in the community.”

The state loan, which the company said it should receive within the next three months, will go toward a $1 million project, with the company covering the balance.

NMC, founded in 1960, makes metal mesh, grating, walkways, security fences and other products.

The state’s Development Financing Advisory Council OK’d the loan at its meeting in late February.