The City Council of Webster City voted unanimously to award a $300,000 loan to AMS Inc. of Webster City, the firm that plans to assemble electric cars.
City Manager Ed Sadler said the loan would be for a period of 18 months.
"The funds for the loan will come from the city's economic development funds,"?he said. The council last year approved the pool of $1.5 million to be used as economic development incentives.
"We had an opportunity to talk to the principals of this firm and I?think it's a well- thought-out business plan. ?I wish them success,"?said Councilman Doug Getter.
AMS?Inc. is a division of Eagle Manufacturing, owned by Joe Fleming. In late July, it was announced that AMS?had signed a contract with EnVision Motor Company, Ames, to assemble a new line of all electric cars in Webster City under the "Electric Motor Cars" brand and logo. The local firm will be installing the drive trains in the chassis.
Sadler said the Webster City office of Workforce Development is handling the hiring process for those interesting in applying for a job with AMS.
"I?think it's Joe's intention to start hiring in the next few weeks,"?Sadler said.
Initially, about 50 workers will be needed, but the company expects to ramp up to as many as 300 when it is in full production, Sadler said.
Contact Anne Blankenship at editor@freemanjournal.net or call 832-4350.