Action Fund Load aids firm's expansion

A $200,000 Action Fund Loan will result in at least eight new jobs at EBV Explosives Environmental Co. in Jasper County. The funds were awarded by the Missouri Department of Economic Development through the Community Development Block Grant program to Jasper County on behalf of EBV.

According to a DED news release, the funds will be used to expand EBV's operations, specifically via the purchase of certain equipment needed for the expansion. In addition to the new jobs, the expansion also is expected to create $1.5 million in investment.

EBV accepts explosives and reactive hazardous waste for safe destruction. The company's clients include the Department of Defense, government contractors and commercial explosives manufacturers.

EBV intends to expand its disassembly procedures by operating a rotary kiln and car bottom furnace simultaneously. New automated equipment, which will be partially funded by the Action Fund loan, is necessary to implement the new procedures.

The Action Fund Loan Program provides a subordinate loan to certain types of for-profit companies that need funds for the purchase of new machinery, equipment, or working capital, and have exhausted other sources. Funds will be released to Jasper County when the county and company meet certain program requirements. The loan must be made in cooperation with a city or county sponsor,. It is available in any city with a population under 50,000 or counties under 200,000 in Missouri.