The North Carolina Rural Infrastructure Authority (RIA) has approved four grant requests to local governments totaling $1,890,000. The requests include commitments that will create a total of 67 jobs, 53 of which were previously announced. The public investment in these projects is expected to attract more than $15.5 million in private investment.
The Rural Infrastructure Authority is a 17-member board that awards Rural, Community Development Block Grant (CDBG), and Utility grant funds, which include the Building Reuse Program and the Industrial Development Fund - Utility Account program.
The RIA approved three grant requests under the state’s Building Reuse Program in one category:
Vacant Building Category
Madison County: A $100,000 grant will support the reuse of a 95,000-square-foot building in Hot Springs. This facility will be occupied by Advanced BioGas Systems, a renewable energy manufacturing company specializing in landfill gas capture devices. With this project, the company plans to create 14 jobs, while investing $2,889,384.
Randolph County: A $230,000 grant will support the reuse of a 14,700-square-foot building in Asheboro. The building will be occupied by Gillespie Precast, LLC, a manufacturer of custom precast concrete products, serving utility and site contractors. Their product lines include concrete box culverts, custom precast structures, pump stations, and dry utility vaults. While 29 jobs and an investment of $5,144,500 are tied to this grant, the company is expected to create 39 jobs and invest $10,047,500 overall.
Vance County: A $200,000 grant will support the reuse of an 83,000-square-foot building in Henderson. At this site, Syntec Precision Technology Corporation, a manufacturer and distributor of precision machined parts for the hydraulic, life sciences and transportation industries, plans to establish its first U.S. location. While the overall project is set to create 34 new jobs with an $8 million private investment, 24 jobs and a private investment of $7,556,193 are tied to this grant.
The Building Reuse Program provides grants to local governments to renovate vacant buildings, renovate and/or expand buildings occupied by existing North Carolina companies, and renovate, expand or construct health care facilities that will lead to the creation of new jobs in Tier 1 and Tier 2 counties, as well as rural census tracts of Tier 3 counties.
The RIA approved one grant request under the state’s Industrial Development Fund - Utility Account program:
Town of Swansboro (Onslow County): A $1,360,000 grant will assist the Town with completing the construction of roadways and water and sewer infrastructure for a 47-acre industrial park.
The Industrial Development Fund – Utility Account provides grants to local governments located in the 80 most economically distressed counties of the state, which are classified as either Tier 1 or Tier 2. Funds may be used for publicly owned infrastructure projects that are reasonably expected to result in new job creation. The IDF – Utility Account is funded through a process tied to the state’s signature Job Development Investment Grant (JDIG) program. When JDIG-awarded companies choose to locate or expand in a Tier 2 or Tier 3 county, a portion of that JDIG award is channeled into the Utility Account.
In addition to reviewing and approving funding requests, the N.C. Rural Infrastructure Authority formulates policies and priorities for grant and loan programs administered by N.C. Commerce’s Rural Economic Development team. Its 17 voting members are appointed by the Governor, Speaker of the House, and Senate President Pro Tem. The North Carolina Secretary of Commerce serves as a member of the authority, ex officio. Visit the Rural Economic Development Division webpage for more information.