Authentic Holdings Inc (AHRO)

[kex0414]

Governor backs the project,,,
Note. This is not a PR. It is a news article.

In the very near future, a sustainable, green manufacturer should be calling the Rio Grande Industrial Park home thanks to enticement from the city of Belen.

At a special meeting on Friday, city councilors unanimously approved a resolution for up to $45 million in industrial revenue bonds as an incentive for a manufacturing company going into the old Solo Cup facility.

Gov. Susanna Martinez would announce details of the project in coming weeks. "My understanding is that this will be the biggest job creator southern Valencia County has seen in decades."

Tom Witthuhn, chief executive officer of Global Fashion Technologies Inc. in California was at the meeting representing its interests. The company is committed to a domestic location, Witthuhn said, and it looked at several states

City attorney Charles Rennick said the resolution shows the city supports the venture, which helps the company obtain financing.

Witthuhn said the company anticipates finishing the business relative to the IRB by the end of October and hopes to close on the property by the end of November.
"Our anticipation is to be up and running in March with shipments leaving end of March, early April," he said.