“We are so glad to finally have the agreement in place for our partners at Syntec,” said Walker County Economic
Development Director Larry Brooks. “It took a little time, but the agreement will provide wonderful benefits for the community.”
The development authority began working earlier in the year with Syntec Industries to put together an incentives package as the company planned to invest about $3 million worth of new equipment, along with the creation of the new jobs, in its LaFayette carpet plant.
The operation will employ 180 workers now that the deal is in place. The deal cut by the development authority will bring Syntec tax relief during the next five years.
“We are thankful that businesses continue to invest in Walker County,” said Walker County Commissioner Bebe Heiskell. “It is this type of investment that has kept our economy moving in these recent years of recession.”
Syntec Industries LLC bought out the former Color Spectrum operation located on Pobasco Street in 2007.
The company is the leading supplier of carpet and other market-specific products to manufacturers in the marine, manufactured housing, multifamily housing and recreational vehicle markets.