SPENCER VENEER EXCEEDS EXPECTATIONS - $100,000 Loan Forgiven

(07/02/2005)

An economic development agency has "forgiven" a $100,000 loan to Spencer Veneer, because it has helped employ 115 employees from Roane, Calhoun and other counties in the area. The Central Appalachian Empowerment Zone loaned the company the funds in 2000, provided it maintained employment for 75 workers. Roane County Commission President Rodney Cox, who serves on the empowerment zone board, says the loan and the plant created tax revenue and provided good jobs, indicating the return exceeded expectations. The Roane County company slices logs into veneer.

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