| HOMEAREA ATTRACTIONS | OUTDOORS | EVENTS | COMMUNITY | PHOTO GALLERY | BUSINESSES |

Libby Montana News Archive

LibbyMt.com > News > July 2009 > Stinger forging ahead at industrial park


Electrical Work. Photo by Kootenai Valley Record.
Electrical Work
Electricians get things ready for Stinger Welding in the old central maintenance building at the Kootenai Business Park Industrial District. Photo by Kootenai Valley Record.

Prep Work. Photo by Kootenai Valley Record.
Prep Work
Thompson Contracting crews prepare the site of Stingerís new building. Photo by Kootenai Valley Record.

Kootenai Valley Record. Photo by Kootenai Valley Record.
Kootenai Valley Record
Stinger forging ahead at industrial park
by Kootenai Valley Record
July 16, 2009

Stinger Welding plans to begin testing applicants for welding jobs this week with a goal of having 10 people working in Libby before the end of August.

The company hopes to have the first five welders on the job starting Aug. 3, local general manager Doug Watson said last week.

While the site of Stingerís planned 100,000-square foot building at the Kootenai Business Park Industrial District is being prepared by Thompson Contracting of Libby, electricians and other workers are making the old central maintenance building at the industrial park ready for Stinger to move in and get to work while the new building is being constructed. A dozen welding machines will be set up in the maintenance shop, and the first task for the companyís new welders will be to put together shop equipment, after which they will start working on actual production orders, Watson said.

Last month, county officials signed a formal agreement with the Arizona-based steel bridge manufacturer finalizing the companyís plan to set up shop at the industrial park. Under the terms of the agreement, Stinger will construct its own building at the former mill site, which will be purchased at cost by the industrial district and then leased back to the company. The agreement includes a guarantee that the company will have at least 200 people working in Libby within four years and maintain those jobs for another six years.

Funding for the project includes a $3.3 million loan from the Montana Board of Investments along with a $3.2 million insurance settlement the industrial district received following the collapse of the old plywood plant roof under a heavy snow load, an $800,000 Community Development Block Grant, and a $400,000 grant from the Big Sky Trust Fund.

Lease payments from Stinger will be used to pay off the MBOI loan. If the minimum level of 200 jobs is not achieved, the company will pay a penalties that will be put toward the loan as well as to the industrial districtís $3.2 million contribution from the insurance settlement.
______________________________________

Editorís Note: See the July 14, 2009 edition of the Kootenai Valley Record for the printed version of this story. The Kootenai Valley Record publishes once a week, on Tuesdays, in Libby, Montana. They are a locally owned community newspaper, located at 403 Mineral Avenue in Libby. For in-county and out-of-county subscription information, call 406-293-2424, or e-mail kvrecord@gmail.com.


LibbyMt.com > News > July 2009 > Stinger forging ahead at industrial park
| HOMEAREA ATTRACTIONS | OUTDOORS | EVENTS | COMMUNITY | PHOTO GALLERY | BUSINESSES |
All page content copyright 2009. All rights reserved. May not be used without permission.

home page
LibbyMT.com
PO Box 940, Libby, MT 59923
406-293-3608
e-mail: info@libbymt.com