The City of Flagstaff has secured a $100,000 grant from the Arizona Commerce Authority Rural Economic Development Grant Program which will be used for expansion of Joy Cone Company’s Flagstaff facility.
Joe Pozar Jr, Plant Manager for the Joy Cone Company was pleased to learn they are receiving this grant. “Joy Cone Company is thankful for the partnership with the City of Flagstaff and programs such as the Arizona Commerce Authority’s Rural Economic Development Grant Program. Such programs make continued growth and expansion like our current project possible. Our current project allows Joy Cone Company to increase capacity and production here in Flagstaff which also means new jobs”, Pozar said
This is the third consecutive year that the City has secured grant funding for local business expansions.
In 2011, the City of Flagstaff obtained $80,000 for a T-Gen North expansion with $160,000 matched dollars, resulting in 12-15 new jobs.
In 2012, the City of Flagstaff obtained $100,000 for a Machine Solutions expansion with $812,000 matched dollars resulting in five new hires in 2012 while anticipating an additional 10-20 new hires in the next three years.
This year, the City of Flagstaff obtained $100,000 for a Joy Cone Company expansion with $900,000 matched dollars resulting in five new hires.
Total grant funding for local business expansion from 2011 to present – $280,000.
Total matched private investment dollars from 2011 to present – $1.8 million.
Grand total investment from the three projects – $2.15 million
Total number of related new jobs – Approximately 35
Each award is a great success for the individual Flagstaff businesses and for the local and regional economy.
About the Economic Vitality Division’s Community Investment Section
The Community Investment Section houses the City’s economic development offices tasked with improving the overall economy through the retention, expansion, and attraction of jobs and industry. The Community Investment section fosters a robust economy through capital investments and jobs, direct input on regulatory issues, market and retail analysis, trend analysis, demographics, site selection, and workforce development.