New company to proceed without bonds

Published 11:52 am Wednesday, July 19, 2017

PureCycle to have ribbon cutting on Thursday

The Lawrence County Port Authority was expected to approve a bond agreement with the Southern Ohio Port Authority Tuesday morning, relating to the PureCycle Technologies development planned for the Haverhill/Hanging Rock area. The LCPA, however, was unable to gather a quorum and thus took no action on the bond agreement.

Dr. Bill Dingus, executive director of the Lawrence Economic Development Corporation and Chair of the LCPA, said there is no contention about the agreement, and he expects the board to approve it at its next regular meeting.

The agreement allows SOPA to issue bonds for the project, despite its location in Lawrence County, in one or more series, in an amount “not to exceed $120,000,000.”

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The delay in approving and signing the agreement should have no impact on PureCycle’s plans for the site, according to Dingus.

The company has scheduled a ribbon cutting ceremony for tomorrow morning, at the location. PureCycle plans to employ up to 60 people at the site, where they will recycle polypropylene scraps from industrial sources.