ATHENS, Ala. (AP) - The city of Athens is putting $1.3 million into a plastics recycling business, enabling the company to expand and add 40 jobs.
The Athens City Council voted on Monday to invest the money in Custom Polymers. Under a five-year contract, the company will purchase 19 acres at Elm Industrial Park and a 50,000-square-foot building to repay the city.
The purchase price is $3,585,000. The company will pay $33,233 a month.
Tom Hill, president of the Limestone County Economic Development Association, said Custom Polymers will build a second structure and add the jobs by January.
The expansion will allow the company to recycle 100 million pounds of plastic bottles and produce 70 million pounds of recycled plastics annually.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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