SALISBURY – Officials in Wicomico County this week endorsed a loan that will benefit two integrating companies, a joint venture which will bring 42 new jobs to Salisbury over the course of three years.
In a legislative session of the Wicomico County Council Tuesday, both presidents from Craig Technologies and Manufacturing Support Industries (MSI), as well as Salisbury-Wicomico Economic Development (SWED) Executive Director Dave Ryan, met with councilmembers to request an endorsement on a matching loan in an amount of at least $10,000.
The money, Ryan said, would be used to move operations from Craig Technologies’ existing facility in Seaford, Del., to MSI’s facility in Salisbury.
“They are merging operations and are basing new machining operations out of the Manufacturing Support Industries facility,” he said.
Craig Technologies President Don Hollenbeck told the council the company, which manufactures precision plastic balls and molded parts for appliances, cars, pharmaceuticals and such, introduced a tool and die component 10 years ago and had since moved its facility to a location in Delaware.
“We expanded into the tool and die business in 2007 and acquired a tool and die shop in Southern Philadelphia,” he said. We moved that down to Seaford, Del., where our main facility is located.”
But due to operating costs and the potential to expand its business into military contracting, Hollenbeck said the company will be moving its tool and die facility to MSI.
“This opportunity came up with MSI and the two operations are practically identical in talent and equipment and software systems,” he said. “It’s a perfect marriage for both companies. So we are relocating our tool and die facility down here to Salisbury. It made more sense, plus the operating costs down here quite a bit cheaper.”
From this merger, MSI President Robert Correa said the company, which manufactures components for the military, would now be able to expand its operations in Salisbury.
Ryan explained that the companies received a $100,000 loan from the state to fund the project. According to the county’s resolution, the money was provided through the Maryland Department of Commerce’s Maryland Economic Development Assistance Authority and Fund.
Although SWED, on behalf of Wicomico County, is required to provide a matching loan of 10 percent or more, Ryan said SWED would provide a 100-percent match, or a $100,000 match, in the form of a loan.
Councilman Matt Holloway made a motion to amend the resolution to reflect an endorsement of a $100,000 loan, and the amended resolution passed in a unanimous vote, with Councilmen Larry Dodd and John Hall absent.
“We appreciate you coming to Wicomico County,” Council President John Cannon said. “This is what we try to do day in and day out, try to increase the working base here. This looks like a very great project.”