Big Spring Economic Development Corporation has entered into an agreement to help a local business with its expansion plans.
Terry Wegman, executive director of the BSEDC, said the board has agreed to help John Crane Solutions, a manufacturer of fiberglass sucker rods for the oil field industry.
“They are in expansion mode at this point and are looking to add 18,000 square feet,” Wegman said. “The project is estimated to be over $1 million and will increase production.”
The agreement will be in the form of a $600,000 loan which can be forgiven if John Crane Solutions meets certain payroll and employment benchmarks, according to Wegman.
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