The Gering City Council took a number of steps Monday night that provided more of the final pieces for funding required to help launch Prime Metal Products later this year.
The council approving a series of resolutions needed to dissolve the city’s Community Development Block Grant revolving loan fund, and allocate the $211,000 that had been in that fund as a grant to Panhandle Regional Development Inc. to be used as part of a $1 million CDBG program for the business project.
Herb Gibson with Prime Metal Products says the grant funding to be used for equipment purchases is a key component of the effort to get the business off the ground. “It’s a huge part of the overall package,” said Gibson following the meeting. “It was a key condition of getting the CDBG grant as a whole, so we’re excited about putting that into a piece of equipment.”
Once in operation with a projected July start, Prime Metal is anticipating having about 33 employees over the first two years, hoping to increase to near 70 several more years down the road. 51% of the positions will be dedicated or made available to low- to middle-income workers.
Gibson says while the virus pandemic has slowed the process of getting the business up and running, the company should be well-positioned to meet what he anticipates will be increasing demand for HVAC ducting products as developers return to construction.