Nebraska economic development officials have awarded Laurel, Neb., $241,000 in Community Development Block Grant (CDBG) funding to help Giant A & M, Inc., a manufacturer and wholesale supplier of automotive branded advertising products expand its operations to Laurel, Neb. The company will create 13 full-time positions. As a result of the project, estimated impacts that are expected over time could result in as many as eight secondary jobs in other sectors of the area economy.
Laurel will loan the company $236,000 for working capital, to purchase stamping, injection molding, screening and welding equipment, and to consolidate existing equipment from its California operations to the new Nebraska location. The remaining $5,000 will be available to the city of Laurel for administrative expenses.
An additional $1.072 million from Giant president Lynn Madsen, Security National Bank of Laurel, the Nebraska Economic Development Corporation, and program income funding from the city of Laurel will go toward construction of a 10,000 sq. ft. manufacturing and warehouse building addition, new equipment and working capital.
Giant A & M, Inc., will convert a former bank in Laurel into its Nebraska headquarters, and build an addition to the manufacturing facility located along Highway 20. While the company’s California manufacturing and assembly plant will close, its principal sales office there will remain open.
Headquartered in San Marcos, Calif., Giant A & M, Inc. creates branded aluminum mud flaps, metal and plastic hitch covers, floor mats, license frame inserts, mouse pads, aluminum cups, domed emblems, and spare tire covers for Ford, Dodge and Chevrolet sports utility vehicles and truck dealers in California and on the East Coast.
Administered by the Nebraska Department of Economic Development, CDBG funds assist with the development of businesses and communities throughout the state. Federal funds are made available to Nebraska from the U.S. Department of Housing and Urban Development’s CDBG program.
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