The company will be investing $14.8 million dollars for purchase of the facility, installation of the bottling equipment, and required modifications and improvements. Of this, Stanton is requesting the creation of a $10,000,000 industrial revenue bond using the authority of the county for this purpose. The company has a very sound financial structure and these bonds have already been purchased by a large, international financial institution upon issue, so there is absolutely no risk to the county in the transaction. The company will retire the bond over a specified period.
The new plant would initially create 31 well paying jobs, with future expansion to 100 jobs. A significant gain in county taxes will be realized from this project. The plant will consume approximately 100,000 gallons of water per day from the one million capacity well at the airport park. This is about the same volume of water now used by the Federal Corrections Institution at the airport.
Stanton is also working diligently to obtain block grants from the State for the purpose of needed road construction and expansion of the building. The Board of Commissioners voted unanimously to approve the request made by Stanton.