Loan extension introduced for Genova Products
PADUCAH, KY —
The Paducah City Commission introduced an ordinance authorizing the extension of a $1.1 million loan to Genova Products.
Genova will use the loan to buy equipment for its facility on Commerce Drive.
The company manufactures plastic products and must repay the loan by 2024 at a 4.5 percent interest rate.
The commission will vote on the ordinance later in November.