County Will Borrow Money To Help Expand Business

The Campbell County Board of Supervisors voted last week to allow the county administrator to sign a moral obligation agreement for a loan that will help a county business expand. The Altavista Journal reports, county staff and the Campbell County Industrial Development Authority have been working with Banker Steel Company on a project to expand at the site on Rangoon Road. According to the article, the IDA agreed to get a 2.4 million private bank loan to purchase equipment and construct a 41,000-square-foot building on the south plant site then lease the facility to Banker Steel. The expansion is expected to bring 20 to 50 additional jobs to the county.