American Wick Drain is considering a $3.5 million expansion at its site within the Monroe Corporate Center.
The company secured up to $54,250 in economic development incentives over five years from the Monroe City Council on Dec. 1 and will be requesting a grant of up to $66,500 from Union County commissioners on Dec. 21.
American Wick Drain, which has been in Union County since 1982, is also considering moving forward with the expansion at another corporate location in Nevada, according to Ron Mahle, of Monroe-Union County Economic Development.
The company employs 53 people.
“They manufacture foundation drain systems that are used in the construction of buildings, highways and athletic fields,” Mahle said. “The company is considering Monroe for an investment in manufacturing equipment that would increase its capacity to meet their ever-growing demand for its products.”
The expansion would create five new jobs.
“The positions we’re talking about, I would call them skilled labor, because they are operating some fairly high-tech manufacturing equipment,” President Scott Morris told the Monroe City Council on Dec. 1. “These jobs would come in at entry-level somewhere around $18 an hour and we look to move them up quickly to somewhere in the $20 to $22 an hour range.”
The grant is based on American Wick Drain investing between $2 million and $3.5 million. The company will pay around $107,852 in property taxes over the grant period.
Mahle said a cost-benefit analysis of the project revealed a 2.44 to 1.0 ratio for the grant term and 4.36 to 1.0 ratio over the life of the project.
Councilman Lynn Keziah thanked the company for expanding and continuing to operate in Monroe. He said companies like American Wick Drain are what makes Monroe what it is.