NC rural grants total $1.6M, promise 215 new jobs
On April 16, the North Carolina Rural Infrastructure Authority (RIA) approved $1.6 million in local government grant requests, including a commitment to create 215 jobs. Additional funding from public and private sources brings the funding total to $41 million.
“Investing in rural infrastructure unlocks opportunity,” said Gov. Josh Stein in a press release. “When we strengthen rural North Carolina, we empower local economies, we connect our people to critical services, and we ensure that no matter where someone lives, we offer them a fair shot at success.”
The RIA has approved seven grant requests under the Building Reuse Program. These seven grants fall into two categories: the Vacant Building Category and the Existing Business Building Category.
There are three grants under the Vacant Building Category:
- Anson County received a $225,000 grant to reuse a 29,000 sq ft building in Wadesboro. The building will house medical manufacturer Hinson & Hale Medical Technologies Inc., producing medical supplies including isolation gowns, surgical drapes, sterilization wraps, and procedure packs for hospital systems, the US Department of Veterans Affairs and Defense, and group purchasing organizations. The company promises to invest $1.4 million and create 59 jobs.
- Henderson County received an $80,000 grant supporting the reuse of a 31,000 sq ft facility in Fletcher. HiVIZ LED Lighting, Inc. is a designer and manufacturer of emergency vehicle light fixtures and components. The company has committed to investing $931,649 in the project and creating 10 jobs.
- Rockingham County has received a $500,000 grant to reuse a 162,000 sq ft facility in Eden. TSEA Energy, a global manufacturer of electrical equipment, will make use of the facility. The project will create 36 jobs with an investment of $931,649.
The Existing Building Business Category has four grants:
- A $40,000 grant in Cherokee County will support building renovation in Murphy, currently occupied by Aegis Power Systems Inc., which designs and manufactures AC-DC and DC-DC power supplies to a variety of industries. The company has promised to invest $161,533 and create 10 jobs.
- In Gaston County, a $187,500 grant will support the 25,000 sq ft expansion of a Belmont building occupied by De Palo Foods. The company promises to invest $8,352,276 and create 30 jobs.
- In Robeson County, a $400,000 grant will support a 350,000-square-foot building in Lumberton. C&S Wholesale Grocers, a supplier of grocers, supermarkets, military bases, institutions, and chain stores, will occupy the building. The company promises to invest $3.1 million and create 50 jobs.
- In Stanly County, a $225,000 grant will support the renovation of a 407,000 sq ft Norwood facility. Tire manufacturer Michelin North America Inc. occupies the building. The renovation will expand the facility’s capacity to produce aviation tires. The company promises to create 30 jobs and invest $28.1 million in the project, of which $2,239,000 is tied to the RIA grant.
“We need to keep in mind the terrible track record from government ‘economic development’ projects like this,” Brian Balfour, VP of research for the John Locke Foundation, told the Carolina Journal. “The state’s largest such program, JDIG, has a terrible 49% failure rate. Moreover, government programs like this resemble central planning, in which a committee determines which businesses receive funding — courtesy of taxpayers. The economy’s scarce resources should not be directed by government committees, but rather entrepreneurs responding to the preferences of consumers.”
The Rural Economic Development team at the North Carolina Department of Commerce supports the RIA. Members of the team review and approve funding grants to support projects, including infrastructure development, building renovation and expansion, demolition, and site improvements.
“NC rural grants total $1.6M, promise 215 new jobs” was originally published on www.carolinajournal.com.
