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Bruckman Rubber expansion backed by $350,000 CDBG award; company reports hires and low-income employee outcomes
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Summary
Council held the required second public hearing on CDBG project 24-ED-003 for Bruckman Rubber’s expansion; Laurie and company representatives said the $350,000 award (plus $10,000 admin) will support a new production line and the company has already met or exceeded several hiring benchmarks.
At a required second public hearing, Hastings City staff and Bruckman Rubber Company representatives described progress on CDBG project 24-ED-003, an economic development loan supporting a plant expansion.
Laurie summarized the project: the city awarded $350,000 with an additional $10,000 for administration; when the company executes loan documents, half the loan will be forgivable and half repaid. Hastings Economic Development Corporation will act as the nonprofit development organization (NDO) overseeing repayment and compliance and will receive $175,000 back into its revolving loan fund to lend to other local businesses at 0% interest.
Kirk Feeney, speaking for Bruckman, said the company had already hired 11 people (he alternately said 11 or 12 during his remarks), met or exceeded the FTE hiring targets (tasked to create 7 new FTEs), and that 9 of the hires are considered low-income. Feeney said several hires have moved above the minimum pay threshold and the company expects the project to proceed as planned.
Sydney Erickson, representing HEDC and the Chamber, said the organizations support the expansion and highlighted the revolving-loan benefit that will help other local businesses.
The council closed the hearing with no recorded opposition; no vote on the award was taken during the hearing because this was the required informational public hearing step in the grant process.
