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2 Firms' Growth Will Bring New Jobs to Oxnard

April 21, 1998|RODNEY BOSCH

As many as 110 new jobs in Oxnard could be created by spring of next year when Tubed Products and Western Saw Inc. expand their businesses and build new facilities.

The expansions were made possible after the companies received nearly $7 million in tax-exempt industrial development bonds through the Greater Oxnard Economic Development Corp., said organization President Steve Kinney.

Tubed Products is a subsidiary of McCormick Co., which manufactures containers for lotions and cosmetics. Tubed Products received slightly more than $3 million, and Western Saw, which manufactures saw blades, obtained $3.6 million.

The Economic Development Corp., a nonprofit organization, was established to stimulate Oxnard's economy and create jobs for residents, Kinney said. The new jobs will range from management to technical to production positions, he said.

Tubed Products currently occupies a 25,000-square-foot facility at 1600 Beacon Place. The company plans to add 70 new employees at its planned 91,000-square-foot plant on about 10 acres it recently purchased in the McInnes Ranch Business Park.

Western Saw Inc., located at 1000 Del Norte Blvd., will add about 40 new jobs when it moves to a planned 60,000-square-foot facility on three acres, also in McInnes Ranch.

Because of their tax-free status, industrial development bond rates average 2% to 3% lower than conventional prime rates, Kinney said. The bonds allow companies to borrow money at a low interest rate, he said.

"It's important that these companies remain and grow in Oxnard," organization Chairman Michael Plisky said in a written statement. "Assisting them with the industrial development bonds helps to ensure the community's future economic vitality."

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