MONTICELLO – Town and county officials and industry executivesare nearing completion of negotiations that could bring a businessand nearly 60 jobs to Monticello within the next year.

“I think it would be fair to say that we could be in a positionto announce something in the next week to 10 days,” said LawrenceCounty Community Development Association Director Bob Smira. “We’rereal close. I think it’s going to happen, but you never know untilyou get it in writing.”

Mayor David Nichols agreed but deferred to Smira for specificsbecause of a request by the industry involved that no informationbe released until the deal was finalized.

“We are negotiating on an industrial prospect,” he said. “Wehave an agreement on two vacant buildings. Everything hinges onthem getting their financing.”

Company executives have visited Monticello several times sincenegotiations began to review the locations and amenities of thetown, Smira said.

At the industry’s request, its identity is being secret untilnegotiations are complete, but Smira said the company and itsaffiliates would occupy both the old Kellwood Manufacturing andMcLane buildings.

Smira said the main company, which would be located in theKellwood building, would employ approximately 40 people andmanufacture biodegradable packaging products, such as meat trayswith absorbent pads.

Two associated companies would locate in the McLane building tomanufacture the plastic resins for use in the Kellwood building andwould also sell excess resins to other companies.

Officials began courting the industry in August 2003, Smirasaid, and the executives have been seeking the best financingoptions from private investors since August 2004.

“It has to be considered a startup industry because themanufacturing of this type of product line does not exist in thisstate,” he said. “Financiers prefer products with a strong trackrecord or an owner with deep pockets who can absorb the cost of apossible failure with the company. So, it takes time to locatebackers and secure the funding.”

Although considered a startup industry, similar industries doexist elsewhere. What makes this industry unique, Smira said, isthat they would specialize in biodegradable products.

“The technology is not necessarily new. The technology to makeplastics from agricultural products has been around for about 15years, but it has always been more expensive,” Smira said. “Now,with technological advances and the rising costs of oil, they havebecome more economical.”

The biodegradable products can be “programmed” to begindegradation after a certain time period or even after they receivea shock, such as being run over in a landfill.

Smira said based on the company’s projections, it would takethree to four months after securing the financing to complete therun-up to production with employment climbing to 40 people by theend of the year with an additional 18 to 20 employed at the McLanebuilding.

The company predicts that within five years the combinedoperations could employ nearly 300 people.