New jobs have been created in the Hickory Metro as a result of grants that were awarded to a pair of municipalities. The North Carolina Rural Infrastructure Authority (RIA) has approved an overall total of 21 grant requests to local governments totaling just under $6,000,000. Governor Roy Cooper announced the grants late last week. The requests include commitments to create a total of 1,200 jobs, 661 of which were previously announced. The public investment in these projects will attract more than $546 million in private investment.
The RIA approved 17 grant requests under the state’s Building Reuse Program. Both of the Hickory Metro projects are in the Existing Business Building Category.
In the Town of Hildebran, a $500,000 grant will support the renovation of a 206,522-square-foot building that is occupied by Synergy Labs, a developer and manufacturer of pet and veterinary products. This project is expected to create 60 jobs, with an investment of $2,303,000 by the company.
In the City of Claremont, A $375,000 grant will support the renovation of a 1.2-million-square-foot building that is occupied by Prysmian Cables and Systems. The company, which manufactures a variety of cable applications in the energy and telecom cable systems industry, plans to create 50 jobs and invest $3,928,750 in the project.
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 and in rural census tracts of Tier 3 counties.
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. For additional information about N.C. Commerce’s Rural Economic Development Division, visit www.nccommerce.com/rd.