LINCOLN, Neb., July 7 -- The Nebraska Department of Economic Development issued the following news:
Governor Dave Heineman has awarded $855,000 in Community Development Block Grant (CDBG) funding to Cheyenne County to assist an area company with working capital related to a project that is expected to create 25 full-time jobs.
The county will make a loan to Adams Industries, Inc. to provide it with necessary working capital. The company plans to build an additional 36,960 linear feet of rail and switching equipment that will enhance its trans-loading capabilities.
Adams Industries, Inc., is a service-based transportation and manufacturing company that provides logistic solutions, specialized warehousing and unique trans-loading of materials. Its customer base consists of small- and medium-sized manufacturing companies searching for locations for their operations, or looking for additional rail or road spurs.
The company offers more than 550 acres of prime industrial zoned property on which new facilities can be built, along with 700,000 sq. ft. of pre-constructed indoor space that can be converted for a company's or companies' specialized needs. This project will enable Adams Industries, Inc., to transport resources to its facility by trucking or rail along seven miles of track that can be accessed by both Union Pacific Railroad and Burlington Northern Santa Fe Railroad.
An additional $6.5 million in company equity along with loans from Union Bank and Trust Company will complete the project.
Federal funds are made available to Nebraska from the U.S. Department of Housing and Urban Development's CDBG program, which assists with the development of businesses and communities throughout the state.