City and county officials will seek a $2 million loan for expansion efforts at Liebert Corp.

Friday, January 12, 2001

City and county officials will seek a $2 million loan for expansion efforts at Liebert Corp. – a move that could add 100 to 200 more jobs.

Both the Lawrence County Commission and the City of Ironton approved by resolution Thursday the Lawrence Economic Development Corporation’s submission of the low-interest loan application to state development authorities.

The LEDC leases the former Cabletron to Liebert. LEDC executive director Pat Clonch updated commissioners in early December about the expansion plan, saying the project could finish by May.

Liebert, the city and the county are also contributing several hundred thousand dollars to the project – a 68,153-square-foot expansion of the company’s Ironton facility.

The money will come from direct contributions and grants, officials said.

"It’s an extension to the original building," commission president Paul Herrell said Thursday.

The deal includes property acquisition near the Liebert building that will take several tracts, officials said.

At Thursday’s city council meeting, members passed two resolutions in support of the project.

City councilman Jesse Roberts said neither of the resolutions will cause a financial burden to the city.

"This action was taken for additional building space which adds approximately 200 new jobs Liebert will bring to Ironton," Roberts said, adding that the addition is all plant-related space.

"The city and the LEDC have facilitated a deal to acquire adjacent property for the expansion," he said. "This is the type of thing we’ve been waiting for."

The project will provide the company more work, and more needed jobs, Herrell said.

"Before it’s over, it will be the biggest employer in the county, in my opinion," he said.

Liebert plant manager Bob Walters said the company’s goal is to hire about 100 to 200 more employees through next year as part of expansion plans developed when it moved to Ironton.

The company makes precision air conditioning equipment, such as environmental controls for computer rooms, employing about 400 now, Walters said. With the expansion, the facility will increase to 190,000 square feet

Walters credited the area support Liebert has received, but added that it would not have been possible with the company’s associates.

"We like to look at our associates and what they’ve brought to our company as our opportunity," he said. "And we like the opportunity we have."