Fremont Plastics Inc. plans to invest $1.37 million to expand its factory and add new equipment as it creates four new jobs.
The Fremont Redevelopment Commission on Thursday approved the project, which includes a 10,000-square-foot addition to the companys existing operation at 500 W. Water St.
The addition is expected to cost $700,000. The company, which employs 26, also plans to spend $668,000 on new equipment.
Fremont Plastics products include sterile medical instrument trays and disposable light covers used in operating rooms, according to Chris Snyder, Fremont town manager and president of the redevelopment commission.
The manufacturers request for a tax abatement is scheduled to be considered by the Fremont Town Council on Oct. 16, Snyder said.
Zimmer wins contract valued at $37.5 million
Zimmer Holdings on Thursday was awarded a defense contract worth up to $37.5 million for various medical and surgical items.
The Warsaw-based orthopedic devices manufacturer makes items including knee, hip and shoulder replacements.
Defense Logistics Agency Troop Support in Philadelphia issued the contract for items to be used by members of the Army, Navy, Air Force, Marine Corps and federal civilian agencies.
The contract is scheduled for completion by Sept. 26, 2013.
Public Citizen report: Drug fraud on rise
Federal and state prosecutors have collected more than $30 billion from drug companies for alleged fraud and illegal marketing over the last 20 years, according to a report by consumer advocacy group Public Citizen.
The report shows that state attorneys are increasingly following the lead of federal prosecutors in seeking multimillion-dollar settlements with drugmakers such as GlaxoSmithKline and Eli Lilly & Co.
Analysis by Public Citizen found that state governments have collected $3.7 billion from drugmakers since 2009, or roughly six times more money than in the previous 18 years combined.
Glaze Tool looks to add equipment, jobs
Glaze Tool & Engineering Inc., 1610 Summit Ave., plans to invest $185,000 in equipment, while adding three jobs at its New Haven operation, according to documents filed with Allen County.
A five-year abatement request, filed Monday, likely will go before the New Haven City Council at its meeting at 7 p.m. Oct. 9. The tax break would save Glaze Tool about $7,000.
The three new jobs will average $35,000 to $65,000. Glaze employs 23.
Shrinking corn supply may lag behind usage
Corn supplies in the United States, the worlds biggest grower and exporter, are dropping below last years domestic usage for just the third time in a half-century after a Midwest drought damaged crops from Ohio to Nebraska.
Production this year plus inventories before the harvest will reach 11.872 billion bushels, less than the 12.33 billion consumed or exported last year, according to U.S. Department of Agriculture data and a Bloomberg survey of 29 analysts.
Only twice since 1960 has supply failed to exceed usage from the previous year, and the last time was in 1996.