Geo-Tech Polymers has announced the company will receive a $50,000 grant from the Opportunity Fund, an economic development initiative of Fluor-B&W Portsmouth’s Community Commitment Plan. Geo-Tech is expanding to Waverly, creating 50 full-time jobs.

The grant will be used to help off-set the costs associated with purchasing and installing equipment. In addition to receiving a $50,000 grant from the Fluor-B&W Opportunity Fund, Geo-Tech Polymers was awarded a $1.2 million loan through the Jobs Ohio program, as well as a $50,902 Job Creation Tax Credit.

Geo-Tech expects to begin advertising for positions before the end of the year on the Ohio Means Jobs website, www.ohiomeansjobs.com. The expansion will be complete by the end of March 2013.