Tallassee company rewarded for strengthening economy - WSFA.com Montgomery Alabama news.

Tallassee company rewarded for strengthening economy

Four years ago GKN spent $17 million expanding its big manufacturing plant in Tallassee and with it adding more than 250 people to its payroll.

Tuesday, the company received a check for more than $67,000 from the state, a 'reward' if you will for increasing its presence in Elmore County and strengthening the local economy.

"As far as I know this is the only program of its kind in the country, and the neat thing about it is this did not come from taxpayers. It's the interest from the state's oil and gas trust fund," said Richard Dorley, Chairman of the Board for the Tallassee Industrial Development Board.

On the surface that may not sound like a lot of money compared to the $17 million the company spent, less than 1%, in fact, but GKN leaders say they are grateful.

The reward will be spent on continuous training of employees, according to Daniele Cagnatel, Vice President of GKN Aerospace.

GKN makes structural parts for helicopters including rotor blades.

The company currently has around 1,000 employees making it the largest employer in Elmore County.

Copyright 2011 WSFA 12 News. All rights reserved.

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