DURANT, OK -- A local business is expanding, adding dozens of jobs. The Durant Industrial Authority is helping make that possible.
PharmcareOK asked the Durant Industrial Authority for a $520,000 loan to help pay for it's new location.
The trade off, the company promises to bring 52 new jobs. PharmcareOK said it will create those 52 new jobs by 2014.
The company is a closed door pharmacy that supplies nursing homes. Once renovations to their new property are complete in October, they will start hiring.
The jobs will range from pharmacists, pharmacy technicians, delivery drivers and office and marketing staff.
Durant Mayor, Jerry Tomlinson, said the City Council and DIA were confident in lending the loan that Durant taxpayers pay for, because they believe the job growth is promising.
"They're having growing pains, as we say, and this is an opportunity for team Durant to participate in their expansion with a zero interest loan that will be paid back in ten years. And their job is to create these 52 quality jobs," Tomlinson said.
The company's annual payroll will be $2.4 million by 2014.