The Department of Economic Development has awarded a $50,000 action fund loan to Grundy County through the Community Development Block Grant program to provide working capital for Roy Enterprises, LLC of Spickard.
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The Department of Economic Development has awarded a $50,000 action fund loan to Grundy County through the Community Development Block Grant program to provide working capital for Roy Enterprises, LLC of Spickard.
The money will allow the business to create two new jobs and about $125,000 in capital investment, according to a release from the DED. Funds will be released to the county as certain requirements of the program are met.
Roy Enterprises, which is owned and operated by Jim Roy, manufactures and sells the ?Tree Trainer,? a self-supporting tree brace designed to straighten crooked trees. Originally, the product was intended for personal use but is now marketed to tree growers, landscape businesses and individuals. A patent application is pending on the product.