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Newport Industrial Development Corporation seeks projects to fund
and apply for any help or anything."Now, we're tying to be a little more proactive. We feel as though the township [Howe] is going to develop."Harry said the group has discussed making low interest loans available, but the group's funds are dwindling."Our current assets are around $100,000," Eby said. "I would not be led to believe they'd put it all out there. I'm not sure we have the climate to give outright grants."
five of us that show up for the meetings."We get response from about 40 percent of shareholders. We have one meeting a year and our last meeting was 35 to 40 minutes. That was all."Despite member inactivity, the corporation has aspirations of growing the local economy, and, in 1995 it lent a helping hand to a group looking to purchase the Butz building along South Second Street in Newport.The corporation gave a $10,000 grant toward its purchase, and the building is now used for low income housing with some retail space on the ground floor."We felt, in the broadest sense, that it had a lot to do with economic development," Eby Prada Pouch Nylon said. "For a long time, that building stood vacant. That was probably our last and largest transaction."The last private company I remember helping actually was a machining company. It was prior to '95. It was probably in the mid '80s."Since '95, however, the corporation has been inactive, Harry said. "We've had nobody come to us Burberry Backpack Mens Replica
200 shares were sold at $50 each, but recently the number of shareholders has lessened dramatically."For years, they didn't even have meetings," Eby said, explaining the group now meets once a year. "There are only Burberry Bags Sale
Founded in the early 1950s, the Newport Industrial Development Corp. is available to offer aid to area companies with hopes of increasing economic prosperity while bringing in jobs.Current officers admit that after nearly 60 years, the corporation's projects have been limited.President Kermit Harry attributes the inactivity partly to declining member participation and partly to lack of knowledge of the corporation's existence.Board secretary Gary Eby said the corporation was formed in 1955 when a Snap on Tools manufacturing plant moved from the area."During that time, it was a major employer in Newport," Eby said, adding that between 70 and 80 workers were employed. "That was back in the day before severances."Workers were left without pay and benefits, but plant owners left them in charge of the Snap on property."The object, for them, was to try to get a new manufacturing company to come in and use the Snap on facility," Eby said. "There were many, many attempts to do that. Everyone of them fell short."Corporation members believed purchasing railroad side land would improve the possibility of enticing manufacturers, but Eby said that effort was to no avail."What's happened over the years, not being successful in having another manufacturing company come in, that property was sold, including the old Snap on building."With the real estate revenue, former Snap on workers started the Newport Industrial Development Corporation to provide funding to prospective businesses looking to settle in the area and to existing Newport businesses wishing to expand.But prospective companies had to create local jobs.The corporation encouraged business owners to buy corporation shares. More than Burberry Handbags Yellow
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