By Paul Ploumis 28 Jul 2015 Last updated at 08:41:46 GMT
ORLANDO (Scrap Monster): 6 LLC, a company headed by former Coast Financial Holdings chairman James K. Toomey, has submitted application to Manatee County to open a new scrap metal yard. The proposed facility will be located in a 9.4 acre land the southeast corner of 63rd Avenue and 33rd Street East, between Bradenton and Sarasota. The business will operate under the name ‘Renovo Resource Recovery’.
The report by Bradenton Herald states that Toomey along with two partners decided to open a scrap metal yard following their research which indicated that the ratio of scrap yards to population was significantly low in Manatee County when compared with rest of the state. The groundbreaking of the new facility is expected to take place during coming months, subject to review and approval by County officials. The company plans to build nearly 45,000 square feet of buildings. The construction works are estimated to cost around $1.5 million. Upon completion, the facility is expected to offer 30-35 jobs.
Meantime, several scrap yards operating in the region believe that there is no room for another scrap yard in the region, on account of declining scrap demand and non-availability of scrap in the region. The scrap metal market has remained weak in 2015. The entry of a new player may kill the industry as it may lead to tough competition, they noted. Manatee County already has nearly half a dozen scrap yards, in addition to the ones in Sarasota County. Meantime, Fellowship Baptist Church has sent a letter to the company to ensure that the scrap yard operations do not cause interference to church activities.
County staff will take public comments on the project through this Wednesday. It must be noted that a public hearing on the project was held earlier in June. The County staff has declined to comment on when the facility will be approved for development.