Hits and misses

-A A +A

Officials say loan program has been successful despite pulling plug on some companies

By Carol A. Clark

Using the recent contract cancellation case of Hytec/Imtec as an example, Los Alamos Commerce and Development Corporation Executive Director Kevin Holsapple said that the county comes out ahead in its loan program.

“Los Alamos County loaned the company roughly $2 million a year ago and instead of gaining 1.5 percent interest or $30,000, it is getting more than 6 percent interest or $120,000,” he said.

The county council terminated its 2006 contract with Hytec LLC, Imtec Real Estate LLC and 3M Imtec Corporation Tuesday.

The company announced last March that all related business operations in Los Alamos County would close and all jobs would be eliminated, which put the company in default of its contract terms with the county.

“It’s so important for people to gain an understanding of the history, intent and source of funding of the county’s Economic Development Financial Assistance Program,” Holsapple said. “This has been a good program and I encourage a true assessment of the costs and benefits be conducted, which I believe will reveal just how good it really has been. Even with the Hytec/Imtec deal – there’s been a $4 million investment made in this community.”

In the last several years, the LACDC has assisted several businesses with their economic analysis plans.

If you subscribe to the newspaper, you receive FREE access to all the exclusive content of the web site! Simply register to receive uninterrupted access to our award-winning and in-depth local online content!

Renew Current or Past Subscription / Register for Online Subscription

If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.

Click the question mark below to see where your account ID appears on your mailing label.

Newspaper Acct. ID:
Street Address:
(exactly as it appears on the label)

If you are a subscriber and you do not know your account ID or don't have a copy of your newspaper available that shows the information on the address label you can click continue below to search for your account.

New Subscription/30 Day Free Trial Account

If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.

ZIP Code:

Create a limited access account.
Register to participate in community forums, post on the community calendar, blog etc. This registration does not give you full access to read our award winning content, etc.

The Los Alamos Monitor | lacirculation@lamonitor.com | 505-662-4185
256 DP Road, Los Alamos, NM 87544
Office Hours are 8:00 a.m. to 5:00 p.m., Monday through Friday