A York County company will get federal stimulus money to help speed a $20 million expansion that would create 30 jobs.
York County leaders agreed Monday night on a deal to support Ajax Rolled Ring & Machine, county officials said.
As part of the American Recovery and Reinvestment Act, every S.C. county was given amounts of Recovery Zone bonds that allow companies to borrow low-interest money for expansions.
York County will provide $12,991,000 to Ajax for the project, said economic development director Mark Farris.
Headquartered in York since 1990, Ajax produces seamless rolled rings used in bearings, gears and other components. Customers include Caterpillar, Timken and General Electric.
About 100 employees work in a 140,000-square-foot facility on Wallace Way near Ratchford Road and U.S. 321. The facility is used for engineering, shot blasting, testing and machining.
"To me, that's the best use of stimulus money--to apply it directly to businesses," said Buddy Motz, chairman of the York County Council. "It keeps people working and attracts people to new jobs."