Grant could lead to business expansion
The Rutherford County Commission and the Spindale Town Council jointly approved resolutions Friday to apply for grant through the North Carolina Rural Center to help with the potential expansion of a local business.
While the business was not named, the expansion calls for the creation of 53 new full-time jobs and a minimum investment of $530,000.
“The existing industries in Spindale and in Rutherford County continue to have opportunities to grow,” said Matt Blackwell, Rutherford County Economic Development Commission director.
The total grant the county and Town of Spindale will be applying for totals $265,000 with a 5 percent match from the county and town. That match comes to a total of $13,250 with the county contributing $6,555 and the Town of Spindale putting in $7,376.
The county’s match will come from the local Industrial Incentive Grant.
Blackwell said that the improvements to the un-named facility will equal the amount of the match required.
“We have estimated the improved value of the building and, over five years, we are looking at $13,250,” Blackwell said.
Currently, the business employs 44 in a building with 135,000 square-feet. Blackwell said that the new jobs created, if the grant is approved, will have an average starting wage of $33,000 with benefits.
“The company also offers other fringe benefits along with that,” Blackwell said.
Under the terms of the grant, the business will be expanding on their existing location and that expansion is eligible for reimbursement through the NC Rural Center Building Reuse Program for Occupied Buildings.
County Commissioners and the Spindale Town Council approved the resolutions during a public hearing on Friday at Spindale House.
Also, under the terms of the grant, the county nor the Town of Spindale were allowed to disclose the name of the business.