FOR IMMEDIATE RELEASE
Sept. 8, 2006, 5:00 p.m. CT

(Lincoln, NE) Gov. Dave Heineman this week awarded $241,000 in federal Community Development Block Grant (CDBG) funding to the City of Laurel so the community can help Giant A&M, Inc., a manufacturer and supplier of automotive branded advertising products, expand its operations into Laurel, Neb. The California-based company has pledged to create at least 13 full-time positions in northeast Nebraska.

"I am so proud of the efforts of communities and economic developers all across Nebraska in taking advantage of the tools they have available," Gov. Heineman said. "Whether they use the Nebraska Advantage or federal CDBG funds, the jobs these important programs help create are engines for economic growth in communities of all sizes."

The City of Laurel has agreed to loan Giant A&M $236,000 in working capital to purchase stamping, injection molding, screening and welding equipment, and to consolidate existing equipment from its California operations into a new Nebraska location. The remaining $5,000 will be made available to the city for administrative expenses.

An additional $1.07 million has been pledged by Giant A&M President Lynn Madsen, Security National Bank of Laurel, and the Nebraska Economic Development Corp., among others. Much of the money will go toward the construction of a 10,000-sq. ft. manufacturing and warehouse building addition.

Giant A&M, Inc., will convert a former bank in Laurel into its Nebraska headquarters, and will build an addition to the manufacturing facility, located along Highway 20. Giant A&M, Inc. creates branded aluminum mud flaps, metal and plastic hitch covers, floor mats, license frame inserts, mouse pads, aluminum cups, domed emblems, and spare tire covers for Ford, Dodge and Chevrolet sport utility vehicles and truck dealers across the U.S.

Funds for the CDBG program are made available to Nebraska from the U.S. Department of Housing and Urban Development. The program is administered by the Nebraska Department of Economic Development.