North Carolina Governor Roy Cooper announced Thursday (October 15) that the North Carolina Rural Infrastructure Authority (RIA) approved more than $4.5 million in funding to support economic development. WHKY previously reported on one of those projects. The requests approved by the RIA include commitments to create a total of 530 jobs, 164 of which were previously announced. The public investment in these projects will attract more than $91.3 million in private investment. Multiple projects are in the Hickory Metro region.
The project WHKY previously reported on is in the Existing Business Building Category. A $200,000 grant will support the expansion of a building in Newton that is occupied by RMC Advanced Technologies, a manufacturer of composite components for utilization in the heavy truck, coach, transit, and wind energy markets. The company plans to add 4,480 square feet to the existing facility. Reports have stated that between 35 and 49 new jobs will be created, it is expected that this project will attract $992,280 in private investment.
Also under the Existing Business Building Category is a project in the City of Lenoir in Caldwell County. A $500,000 grant will support the renovation of a 412,554-square-foot building, where Craftmaster Furniture, Inc., recently expanded. The furniture manufacturer plans to create 62 jobs and invest $753,405 in this project.
A project in Conover is listed under the state’s Rural Demolition grant program. A $67,950 grant will support the demolition and removal of a 21,822-square-foot, county-owned building. The City has plans for a public-private partnership to develop the property for manufacturing incubator space.
A project in Lincoln County is in the Vacant Building Category. A $250,000 grant will support the reuse of a 115,924-square-foot building in Lincolnton. Taiji Medical Supplies, a subsidiary of Taiji Chemical Fiber Equipment, plans to produce N95 respirators at this location to meet the ongoing needs for personal protective equipment, due to the COVID-19 pandemic. The company expects to create 79 jobs, while investing $12,212,500 in the project.