Biz Buzz
By Jim Martin, Doug Oathout Erie Times-News staff bloggers
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Posted: September 6th, 2012
Lord Corp. to show off new home in Summit Township

Elected officials and invited guests will get a look this evening inside Lord Corp.’s future manufacturing facility in Summit Township.

The company, based in Carey, N.C., offers up the tour as it moves ahead with plans to consolidate its two Erie locations into the former Bush Industries building on Robison Road.

That plan, which calls for the company to invest more than $60 million and create more than 70 new jobs — for a total of more than 800 Erie County jobs — is said to hinge on approval of a complex tax-financing plan.

That plan, called a TIF or Tax Increment Financing, would give Lord $2.2 million in tax breaks. Lord would use those funds, as well as $60 million of its own money, for plant upgrades.

The Summit Township Board of Supervisors already has voted to approve the plan. The Fort LeBoeuf School Board is scheduled to vote Sept. 20.

Erie County Council has not yet scheduled a vote.

Renovations to the 1.1 million-square foot building are in the early stages.

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