The company planning to build a $100 million recycling plant in Erie is receiving more financial support.

International Recycling Group announced Wednesday it has been awarded a loan for more than $300,000 from the Erie County Redevelopment Authority.

The money will go towards the group's purchase of 25 acres of the former Hammermill site.

Once built, it will be the largest plastics recycling plant in the country.

The new facility will accept and sort all forms of plastic.

"Erie County and the City of Erie will become the leader, the cutting edge leader in recycling that everyone here should be enormously proud of, in addition to creating 300 really good paying manufacturing jobs," said Mitch Hecht, International Recycling Group.

The company is expected to break ground on the new facility at the beginning of the new year.