County eyeing grant for new business
A new business could be coming soon to Rutherford County.
On Monday, the Rutherford County Commission will consider applying for a grant through the North Carolina Rural Center for building reuse in an effort to bring a new business to the county.
Commissioners will consider applying for a grant totaling $39,391 and a 5 percent county match of $1,970 at their regular meeting at 6 p.m. Monday.
The grant will be used to help the new business make improvements to the building the new business — code named "COZY" — is planning to use.
Rutherford County Economic Development Commission Director Matt Blackwell did not provide the name of the new business, nor did he disclose the location the business was going to locate.
The terms of the agreement will result in the creation of 8-10 new full-time jobs.
"It means 8 new jobs (and 9 existing jobs coming to the county) with an average salary of $25,813 per year," Blackwell said. "This is good news for the county."
The new business is planning an investment of at least $83,743 in building renovation costs plus an additional $55,000 investment in equipment for the facility.
"We are going to try to leverage a North Carolina Rural Center building reuse grant that will help them up fit the building to suit their manufacturing needs," Blackwell said.
To obtain the grant, the county is required by the North Carolina Rural Center Building Reuse grant application to put down a 5-percent match.
Blackwell said the company is also planning to invent $295,000 to acquire the vacant building, brining the total investment to over $429,000. He said the company currently operates a warehouse distribution facility elsewhere in the state. The move to the county will accommodate the distribution as well as allow the company to add a manufacturing line, Blackwell said.
He said the products distributed by the company are primarily available through the Internet and retail outlets.
"The company was doing their own site search for a new facility because they had outgrown their current facility," Blackwell said. "They found what they needed here in Rutherford County."
The total investment is expected to occur by the fourth quarter of this year.