Eaton plans $1.99M equipment upgrade, SEDCO approves $109K grant
17 Mar 2023
News and Media
3/17/2023 (Michael Hutchins, Herald Democrat)
The Sherman Economic Development Corp. will assist an area manufacturer update aging equipment to more modern technology. The SEDCO Board of Directors voted unanimously Tuesday to approve a $109,700 grant for Eaton in support of a proposed $1.99 million equipment upgrade for its Sherman facilities.
“They are keeping their plant machine equipment competitive with all their other plants,” SEDCO President Kent Sharp said Tuesday, adding that Eaton plans to hire 35 new jobs over the next five years. “As equipment ages and automation ages out their equipment, replacing this equipment is a good thing. It keeps them competition when you compare it within the Eaton system.”
Meeting documents described the equipment that is set to be replaced as a hydraulic turret and tower. The current piece of equipment is 26 years old and its replacement will benefit the company’s metering product line and allow for continued support of other product lines, including industrial enclosures.
The approved grant is among the first agreements to make use of adjusted grant guidelines set by SEDCO in 2022 that reduced grant funding from 5 percent to 3 percent for future projects of over $1 million.