SBD/13/Sponsorships Advertising Marketing

LACROSSE STICK MANUFACTURER ASKS STATE FOR FINANCIAL HELP

     The parent company of the "fastest-growing" lacrosse stick
manufacturer, STX, Inc., is seeking $1M in MD state aid to
finance its expansion plans in Baltimore, according to the
BALTIMORE BUSINESS JOURNAL.  William T. Burnett Inc. has
"outgrown" both its area facilities and plans a $2.2M renovation
and expansion to its plant.  To help pay for the costs of keeping
250 jobs in state, the company has asked for $500,000 in low-
interest loans and a $500,000 grant from Maryland's Economic
Opportunities Fund.  Burnett is also "being wooed" by York, PA.
According to a letter obtained by the BALTIMORE BUSINESS JOURNAL,
the state plans to offer a 10-year, $500,000 loan at a fixed rate
of 2%.  It will also offer a $500,000 conditional grant that will
have to be repaid only if the company fails to retain the 255
local jobs.  A legislative committee is expected to officially
review the request in late August or early September (Alan Kline,
BALTIMORE BUSINESS JOURNAL, 8/12 issue).
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