Top – International Ordnance Technologies President and Owner Tammy Snyder presents to Jamestown Local Development Corporation.
Bottom – Whirly Bird Festival Organizer Miki Girts presents to JLDC
The Jamestown Local Development Corporation heard downtown programming funding requests for Whirlybird Festival and a loan request from International Ordnance Technologies at its monthly meeting Wednesday.
IOT Owner and President Tammy Snyder presented her request of a $90,000 loan to repair a heat-treat furnace which had broken down. IOT manufactures machine gun links.
City Economic Development Coordinator Stephanie Wright said with the furnace being operational, it will allow IOT to close on a multi-million dollar contract with a nationally recognized company, “To produce a much needed link. And IOT will be equipped to pursue a product line with two other nationally recognized companies. And these new contracts will create at least seven new positions, high quality, high paying jobs, full-time jobs at IOT.”
IOT currently employs 35 people at its facility on Harrison Street. The loan is for 7 years at a rate of 4%. IOT has also requested $90,000 from the Chautauqua County Industrial Development Agency.
Whirlybird Festival Organizer Miki Girts requested $38,700 in funding with $12,500 of that being an upfront loan for an actual grant request of $26,200.
He said the money would help fund four days of free entertainment downtown that includes live music, live art demonstrations, comedy, and art vendors. The event will take place at the Wintergarden Plaza on North Main Street as well as several indoor locations from August 10 through 13. Around 35 acts are currently scheduled for the festival.
No action was taken at the meeting on either request as there was not a quorum. Jamestown Director of Development Crystal Surdyk anticipated that the board would take action by Friday, April 22.
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