The EDC of Wayne County will provide EDIT funds to a Richmond company which will lead to new jobs and investment for Wayne County. Elevator Equipment Corporation, a manufacturer of hydraulics for the passenger and freight elevator industry, was recently awarded a three-year contract to make quality hydraulic jacks for a major elevator manufacturing company.  The contract is renewable at the end of the initial three-year period. Elevator Equipment Corporation will invest $150,000 in new machinery, retain fifty-two jobs and create fourteen new jobs in the next eight to ten months.  

The EDC of Wayne County has provided an EDIT grant of $10,180 to be used to assist with the purchase and installation of new machinery and/or for training of new employees. The company has also received a ten-year tax abatement from the city of Richmond for equipment.  According to EDC Board Chairman, Kevin Ahaus, this is the fifth project the EDC has partnered with this year.  Ahaus says, “We’re pleased to be able to work with Elevator Equipment Corporation on their new expansion.  Activity at the local level appears to be picking up and we’re glad to be able to provide assistance to local businesses as they create new investment in Wayne County.”

The company serves various markets throughout the United States. They provide elevator components, control valves and elevator systems for passenger and freight customers as well as manufacturing services.  According to Richmond Mayor, Sally Hutton, Elevator Equipment Corporation has had a positive presence in Richmond for a long time.  “We’re extremely happy to see their continued success and opportunity for growth in our community.”

The request for EDIT funds will now go before the Wayne County Commissioners for their consideration. Ken Paust, president of the Wayne County Board of Commissioners says, “Elevator Equipment Corporation’s expansion is great news for Wayne County.  Fifty-two jobs will stay here plus fourteen new jobs will be created because of this company’s investment.”

Since January of 2009, the EDC of Wayne County through its EDIT fund has assisted existing businesses in the commitment to the retention and creation of over 160 jobs and provided training assistance funds to 13 companies.  These projects have resulted in over $13.5 million in new investment in Wayne County. The county’s consolidated EDIT fund comes from funding provided by partnering towns in Wayne County who have agreed to provide half of their EDIT proceeds yearly for county-wide economic development.  Partners in county-wide economic development currently include Wayne County as well as the towns of Cambridge City, Centerville, East Germantown, Economy, Hagerstown, Milton, Mt. Auburn, Richmond, and Whitewater.