By Wayne Gates
The Stanley Black and Decker plant in Georgetown is still operational for now.
The plant was originally scheduled to close in November of last year as the company consolidated operations, but that effort is taking a little longer than planned.
In a letter sent to Georgetown Mayor Dale Cahall, Stanley Black and Decker Global Director of Operations Juan Molina laid out the new schedule.
“The adjusted (closing) timeline will commence on April 30,2020 and the anticipated schedule for making separations is as follows;” wrote Molina.
He went on to tell Cahall that 65 employees would be separated by May 1, 13 more by May 31 and the final three employees will be let go on June 30.
“At the end of the process all positions and jobs at the facility will be permanently eliminated, although it is possible that some employees will be offered transfers to other areas,” wrote Molina.
Georgetown Village Administrator Tyler Thompson said that the village is already moving forward to get another company into the building once Stanley leaves.
“We had representatives from the Governor’s Office on Appalachia, REDI Cincinnati and the Ohio Valley Regional Development Commission tour the facility last year after the initial closing date was announced. They were very impressed with the quality of the building,” Thompson said.
“There are not a lot of manufacturing facilities of this size that are already built and less than 50 years old. They were optimistic that it would catch someone’s eye once it’s available to purchase.”
He added that the property is almost 240,000 square feet and is listed by real estate company Cushman and Wakefield to sell for $2.9 million.
Thompson said that the delayed closure of the building will help lessen the economic hit that the village will take when the plant closes.
Once it does close, the village will lose about $65,000 in income tax revenue.
“It’s obviously not ideal, but we will be able to absorb that for this year, but if the trend continues for a few years, it will start to hurt a little bit,” Thompson said.
He added that the village general fund is approximately $1.5 million annually.