Marshall Economic Development Corporation voted to approve incentives for a local expansion project at their board meeting on Tuesday afternoon.
Since opening last January, Davis Chemicals has provided employment for Harrison County residents and has grown to 85 employees. The average annual salary for a Davis Chemicals employee is $60,000 resulting in a $1.2 million annual payroll to spend in the Marshall area.
Chairman Leslie Chambers said the positive work that Davis Chemicals has done throughout the community for them was one of the reasons for approving their expansion.
“Our only business sign at Gateway Park has exceeded our expectations, we’re very happy to say” Ms. Chambers said. “They are wanting to expand and they are going to add a minimum of 20 jobs and we are wanting to incent those jobs and happy to be making that motion today.”
Executive director for MEDCO, Donna Maisel revealed that a previous contract they had with the company was for an expansion of 30 jobs. She said that Davis Chemicals exceeded that capital investment and employment target.
MEDCO operates on sales tax which will fund the $40,000 for this expansion project.
Ms. Maisel said the growth in employment Davis Chemicals has seen over the past year shows investing in them is a smart decision.
“They put money in our economy and that’s worth the $40,000 a year,” Ms. Maisel said. “I’m happy that the local economy is holding steady and that we’re experiencing modest growth. These are the steps to help grow for the future.”
Davis Chemicals Services, LLC will receive $40,000 from MEDCO after the company is able to ensure that they’ve provided employment to a minimum of 20 new hires that have stayed for more than a year.