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Commissioners approve tax-exempt loan to Titusville industrial firm

Submitted Fri, 10/18/2013 - 9:16am by Andy Alm

TITUSVILLE – A Titusville firm gets the county’s approval to pursue a tax-exempt loan from the Crawford County Industrial Authority for a major development project.  Roser Technologies, which manufactures components used in the steel industry, obtained the county nod on Thursday to use Industrial Authority financing to purchase 5 buildings and 10 acres inside Titusville Opportunity Park. The loan is in the amount of $1 million.

Jim Becker of the Titusville Redevelopment Authority told the board of commissioners yesterday it was one of a number of financing options available.

“We appreciate Crawford County Industrial Authority jumping in.  Titusville did away with their Industrial Development Authority a couple years ago.  This turned out to be one of multiple financing options that were available for this project.  By the use of this type of funding, we can generate more interest with local banks to get involved with this type of project again.”

Roser Technologies currently employs 59 people.  City manager Larry Manross told the Titusville Herald the expansion is good for the city and will put all that property back on the tax rolls.