Local company to add 34 jobs

By LISA HOBBS / Staff Reporter for the Southern Standard

New jobs are on the horizon for local residents as Warren County Molded Products received a $690,000 zero-interest loan Wednesday which will help finance the purchase of a building, as well as equipment needed to start the business.

?This new building will allow us to expand without having to add on to the current building,? said business owner Jamey Hyder. ?We believe 34 new jobs will be created over the next 36 months.?

The building to be purchased is the old Cookeville Tool & Die facility on Belmont Drive. The building has 33,000 square feet and 20-foot ceilings. It sits on 7 acres.

Most new employee wages will range from $8 to $9 per hour, with management-technical employee earning from $12 to $18 per hour plus benefits.

The loan was made possible by the USDA Rural Economic Development Program, which makes zero-interest loans to support rural development.

?Rural Development is committed to helping communities develop their economic potential,? said USDA area director Joe Woody. ?The funds awarded today will not only promote sustainable rural economic development, it will also create more than 30 new jobs.?

The loan was requested by Caney Fork Electric Cooperative, a current Rural Development borrower. Caney Fork then made the loan available to Warren County Molded Products.

?Our role in this is to make sure our community helps businesses grow,? said Terry Mullican, director of member services for Caney Fork. ?The cooperation of USDA and Caney Fork and others have shown how important it is to work together to bring jobs that will have a positive economic impact to the communities surrounding the business. When you work together, it makes everything easier.?

Local people establishing local businesses, Mullican believes, is the driving force behind establishing good long-term economic health.

?I think history will tell you in most economic development, if you can get local people and local businesses growing, those are the ones that will stay,? Mullican said. ?They are more attached to the community and they don?t have a high risk of leaving.?

?We are here to stay,? said Jamey Hyder, who owns Warren County Molded Products with Chris Hyder and John Hyder. ?This is where we live. This is where our family lives and we want to be here in Warren County. We appreciate all the help from Caney Fork Electric and USDA. We think this will be a successful venture and will provide quite a few good jobs with benefits. The business will be something we can be proud of and the community can be proud of.?

The primary focus in the early stages of the business will be automotive. Future pursuits could include, but are not limited to, pharmaceutical, electronics and appliance.

ABOVE PHOTO INFO:
USDA Rural Development is investing $690,000 to aid Warren County Molded Products with the purchase of a building that will result in 34 new jobs. Pictured, front row, from left, are Mike Bouldin, Bill Rogers, Alisa Farmer, Joe Woody, John Hyder and Chris Hyder. Back row, Kenneth Rogers, Jeff McCormick, Brent Wiles, Dickie Hillis, Terry Mullican and Jamey Hyder. (Lisa Hobbs photo)