The Lindale Economic Development Corporation (LEDC) has approved a Business Retention and Expansion project to support King Manufacturing of Lindale.  In the agreement, LEDC will commit a Certificate of Deposit (CD) in the amount of $200,000 to guarantee a working capital loan so that King can restructure some debt and expand its local operations.  Lindale State Bank will provide the financing.

As part of the agreement, King Manufacturing not only will keep operating in Lindale, but will close a satellite operation in Oklahoma and move that business to the Lindale facility, and will expand local employment by at least ten.

"If it had not been for the Lindale Economic Development Corp. and Carroll Anderson at Lindale State Bank we could not be in business", Danny Perry of King Manufacturing said.  "They saved this company, and many jobs in Lindale. 

Perry continued, "We have plenty of room to expand in Lindale and create more jobs.  We like Lindale and the East Texas area and that is why we decided to keep our operations here and shut down the Oklahoma plant."

King Mfg. is a metal fabrication business that operates a full service machine shop.  The company currently employs about 22.  Over the years, King Manufacturing has been a large vender to the Goodyear facility in Tyler that is ceasing operations.  King still does business with other Goodyear units, but the loss of business to the Tyler facility has forced the company to restructure its business plan and seek new business customers.

LEDC is pleased to have the opportunity to support this company, again.  King Manufacturing was the first project LEDC supported after the formation of LEDC.  LEDC provided a grant to help entice King to move to Lindale in 1995, and King has been a good corporate citizen for the past 12 years.  The Tyler Economic Development Corporation facilitated the 1995 project. 

LEDC is an Economic Development Corporation organized under Chapter 4A of the State Economic Development legislation and is charged with facilitating economic development in Lindale by helping create primary jobs and capital investment.  Board members for LEDC included Red Brown, John Holland, David Langston, Todd Richardson and Ed Seifert.