The West Virginia Economic Development Authority has approved two loans to Polymer Alliance Services LLC to build and operate a plastics recycling facility in Wood County, WV.
The loans include one for $1.334,250 for real estate, and a loan of $482,600 for equipment at the plant.
The company processes and sells recycled plastics. The company was attracted to the state through the marketing efforts of the Polymer Alliance Zone. The company plans on purchasing plastic waste from DuPont, General Electric and other manufacturers.
The company, with 15 employees, expects to grow its ranks to 35 after one year; 65 after three years.
The WVEDA states that the Polymer Alliance Zone is the largest concentration of engineering polymer plants in the world.