Despite rumors to the contrary, Jim Hill, owner of The Door Stop, says his company is still moving to Payson.
Hill said the bank has to approve the plans first, so he asked the town to put them on hold until that happened.
Hill said that while housing starts are down, especially in the West, The Door Stop has managed to "grow all along." But, he added, "We don't want to grow faster than we can be self-funded. You can't go bankrupt if you don't have any debt."
Hill said he will keep prospective employees updated.
The Door Stop, which manufactures cabinet doors, purchased land from the town in the Sky Park Industrial Park Subdivision after a protracted political battle. When it moves to Payson, the company is expected to create up to 75 jobs with annual wages in the high $20Ks.