The South Ohio Agricultural and Community Development Foundation Lawrence County Review Committee has approved the application of a new Ironton business seeking financial assistance for new equipment.

Advanced Machine and Fabrication, which now occupies on the old Wolohan Lumber Co. building on South Third Street near Ashtabula Street, is seeking $19,250 in tobacco settlement monies to help pay for a new 10-ton crane.

“We do custom fabrication of mining equipment and fixtures for the power industry,” Advanced Machine and Fabrication owner Jeremy Chapman said. “This will help us expand and do larger work. Right now we only have a 5-ton capacity.”

One of the stipulations of such grants is that the money is used to create permanent, full-time jobs.

The grant would be applied toward the total cost $55,000.

The application now goes to the regional review board and then on to the state for approval. Local committee member Viviane Khounlavong-Vallance, said the regional committee will likely consider the application when it meets in January. If it gets approval at that level the application is then sent to the state committee for consideration.

The application is indication of potential good news on the Ironton economic front.

“Jeremy Chapman has been working with our economic development director, Bill Dickens on this and Jeremy is very confident this will grow,” Mayor Rich Blankenship said.

Lawrence County received $120,000 this year in tobacco settlement monies. In the past, these monies have been used to aid Premier Precast Concrete, Clark Tomato Farm and J&M Steel, review committee members said.

The tobacco settlement monies are the result of a 1998 Master Settlement Agreement between the states and tobacco companies in recognition of the damage done by tobacco use.

Entities seeking tobacco fund monies may call the Lawrence County Commission at 533-4300.