The saga surrounding a proposed manufacturing facility in West Virginia continues after all.
It was announced Thursday that Ranger Scientific — the high-grade ammunition company that has been trying to build a factory in the Kanawha Valley since 2016 — will receive a $7.5 million federal loan. The money is a Business and Industry guaranteed loan through the U.S. Department of Agriculture.
It will go toward purchasing land, renovations and equipment while also providing working capital. Phase 1 of the two-phase project — which company and government officials say will create 400 jobs — will cost $22 million and is slated to be finished in April 2021.
“This is a totally new opportunity for diversification,” said Kent Carper, president of the Kanawha County Commission. “This is the most significant new opportunity for the upper Kanawha Valley in a quarter of a century.”
Thursday’s announcement marks another chapter in a story