KJD Enterprises, a Brownwood business with 40 employees, will produce a new product ó a portable dumpster ó and hire 10 additional workers thanks to a $150,000 loan from the Brownwood Economic Development Corp.
Brownwood City Council members ratified that BEDCís earlier action to approve the line-of-credit, interest-free loan.
KJD President Kenneth Day, in conjunction with Paul Smith, has developed a portable dumpster that will be produced in three sizes, council members were told. The company requested the loan to purchase new equipment and inventory.
Smith runs the welding program at Texas State Technical College, BEDC Director James Campbell told council members.
The company will make $1,500 monthly payments beginning Sept. 1, 2010, until the loan is repaid.
The portable dumpsters will be primarily used by ranchers and farmers, Campbell told council members.
KJD Enterprises, located at 2700 Virgil Gray Blvd., has obtained a patent for the product, Day wrote in a letter to Campbell. The expansion, including the building of jigs, equipment for mass production and promoting at about 15 farm shows will probably cost about $300,000, Dayís letter states.