CHARLESTON, W.Va. -- No new business was discussed when members of the West Virginia Economic Development Authority met for its monthly meeting Thursday.
However, members provided the final approval for Fairmont Tool's expansion.
The authority gave the final OK for a 10-year, $900,000 loan.
In October, the authority approved a $3 million loan to the company for the purchase of land, financing construction of a new building and new equipment. The two new loans will go toward buying more equipment, said David Warner, WVEDA executive director.Fairmont Tool performs machine pipe repairs, tests industrial pipes and thread pipes.