Argent specializes in the manufacture of engineered, pressure sensitive, adhesive-backed die-cut components used primarily for the automotive industry. The project will create an estimated 33 new jobs.
"Argent's decision to expand in Wayne County is great news," said Sabrina Keeley, acting CEO of the MEDC. "This expansion project will create jobs and revenue to further strengthen the region's economic vitality."
Industrial Development Revenue Bonds are issued to finance projects for manufacturers, solid waste/cogeneration companies and certain nonprofit corporations. IDRB financing lessens the cost of borrowing because the interest paid to the bond buyer is exempt from federal, state and local taxes.
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