A racing vehicle components firm has qualified for assistance to relocate and injection mold parts in Thomasville, N.C., according to local news reports.
SV Plastics LLC told government officials it hopes to create 25 jobs and invest $2.2 million in the project, according to The Dispatch in Lexington, N.C.
SV proposes moving from Hebron, Ohio, to Thomasville, where related companies also will be based. One of the related companies will be CV Products, now also based in Hebron. CV Products was formed in 1997 by Ken and Glen Laivins, according to CV’s web site. It has injection molding and thermoforming capabilities to make racing vehicle accessories based on patents and rights owned by SV, according to the web site.
SV and CV officials declined to be interviewed or to explain the relationship between the companies. Managers would not speculate when SV and CV would relocate but as of the week of Oct. 21 no move had occurred. Thomasville has qualified SV for a $500,000 Community Development Block Grant for building reuse, provided SV creates jobs by October 2015. Other conditions for the grant include setting aside 60 percent of the jobs for low- and middle-income residents, The Dispatch reported Oct. 21. The new jobs would have annual salaries of about $50,000 in SV’s proposal.
Thomasville city manager Kelly Craver, quoted in The Dispatch article, could not be reached by Plastics News to clarify the status of the relocation.
When government officials initially began reviewing SV’s proposal they referred to it as Project Z13, according to an Aug. 26 report in the Winston-Salem Journal. SV’s identity for the Z13 proposal was confirmed in July. In May, Davidson County Board of Commissioners approved up to $29,700 in tax-rebate incentives for SV. Other local incentives worth about $13,000 over five years are also offered to SV to create jobs.