Cyclonaire, a York, Neb., company, will soon be expanding and adding jobs.
Company President Jerry Elfring told the York City Council the company wants to add 23,000 square feet to its 60,000-square-foot plant as part of a $2.5 million investment. He anticipates adding 11 to 15 jobs.
The council has agreed to lend $450,000 in Community Development Block Grant funds for the project.
Cyclonaire engineers and manufactures pneumatic conveying equipment.
Little impact seen from D.C. cuts
Washington's belt tightening is having just a minimal effect on businesses, according to a survey of business economists released Monday. The survey, by the National Association for Business Economics, asked how higher taxes and lower government spending had affected businesses in the first three months of the year. Ninety-three percent of respondents said the political developments had no effect on employment levels in the first quarter, and 95 percent said they had no impact on capital spending plans.
Tight supply of homes affects sales
Sales of previously occupied U.S. homes dipped in March as the supply remained tight. But the sales pace remained ahead of last year's. The National Association of Realtors said Monday that sales dipped to a seasonally adjusted annual rate of 4.92 million, from 4.95 million in February. February's figure was revised lower. Sales in March were 10.3 percent higher than a year earlier. Sales have remained mostly unchanged in the past four months — largely, analysts say, because of a limited supply of homes. Economists still expect the housing market to continue recovering this year.