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What you need to know for 07/23/2017

Amsterdam flooring company looks to buy larger facility

Amsterdam flooring company looks to buy larger facility

Flooring Authority Inc., a company based in Amsterdam, is looking to expand into a new location in t

Flooring Authority Inc., a company based in Amsterdam, is looking to expand into a new location in the city and add jobs.

The company has committed to creating 12 new jobs over the next three years. It currently has the equivalent of 41⁄2 full-time employees.

According to Rosalie Faber, the company’s business development manager, the business expanded substantially over the past year and needs more space.

“We hope to continue growing the business,” she said.

According to Faber, the company expects to purchase a new facility within the next couple of months and move in by the end of the year.

The company was established in 1987. It specializes in commercial and industrial flooring removal, flooring surface preparation and commercial and industrial flooring removal. The company has been leasing space since August 2013 in the same Church Street building that houses the Walter Elwood Museum.

Ken Rose, director of the Montgomery County Industrial Development Agency, said the company is planning to purchase a 20,000-square-foot former manufacturing facility in the Edson Street Industrial Park. The facility has been vacant for several years and is currently owned by a realty holding company in New Jersey.

The building was once operated by a company that made car antennas, until that company moved its operations to Mexico.

The overall cost for purchasing the building would be $400,000. The county plans to approve a loan of $180,000 from the Montgomery County Revolving Loan Fund, a county loan fund administered by the Montgomery County Industrial Development Agency. The loan would be a 15-year term loan at an interest rate of 4.5 percent.

On Tuesday the county Legislature’s finance committee gave the go-ahead for the full board to vote to approve the loan at its Aug. 26 meeting.

Rose is confident that approval will happen, and he also expects Patriot Bank to loan the company an additional $180,000 to help with the purchase.

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