Liberty Steel & Wire’s request for a $2.65 million loan from Peoria County is on hold, possibly until next year.
The company is seeking the loan to purchase a piece of equipment needed as part of a capital improvement plan that would include relocating its U.S. headquarters from Texas to Bartonville.
After the plan was brought before the Peoria County Board’s executive committee earlier this month, the full county board was originally expected to vote on the loan at Thursday’s meeting. But the action was not placed on the agenda.
County Administrator Scott Sorrel tells WCBU that Liberty recently learned the lead time to acquire the needed piece of equipment for the transition has been extended to early next year.
Sorrel said he anticipates Liberty will bring the request back to the county once the company has a better idea of when it can get the needed piece.
