Special to Iredell Free News
RALEIGH — Two Iredell County industrial expansion projects were among 16 statewide that were awarded grants totaling $4.13 million by the N.C. Rural Infrastructure Authority (RIA).
Gov. Roy Cooper announced the awards, which will trigger commitments to create a total of 718 jobs, 144 of which were previously announced. The public investment in these projects will attract more than $95 million in private investment.
“Our rural communities are the backbone of our state,” Cooper said. “The effects of the pandemic have been profound, but our people are resilient and these grants will stimulate economic growth through building reuse and other infrastructure.”
Local projects selected for the grants include:
♦ A $125,000 grant will support the expansion of a building occupied by CR Onsrud Inc. in the Town of Troutman. The company manufactures industrial machinery to assist clients in a variety of markets including aircraft, spacecraft, automotive parts, and military and defense parts. The company plans to add 9,000 square feet to its existing facility. In this project, the company plans to create 25 jobs while investing $4,805,058.
♦ A $350,000 grant will support the renovation of Parker Hannifin’s newly purchased manufacturing building in the City of Statesville. Parker Hannifin is a Fortune 250 global leader in motion and control technologies, and manufactures fluids and filtration products for industrial use. The project is expected to create 30 jobs, with an investment of $3,823,041 by the company.
The Community Development Block Grant program is a U.S. Department of Housing and Urban Development (HUD) program administered in part by N.C. Commerce. CDBG’s economic development funds provide grants to local governments for creating and retaining jobs. Project funding is based on the number of jobs to be created and the level of economic distress of applicant communities.
The North Carolina Department of Commerce’s team of rural economic development professionals supports the RIA’s work. RIA members review and approve funding requests from local communities. Funding comes from a variety of specialized grant and loan programs offered and managed by N.C. Commerce’s Rural Economic Development Division, led by Assistant Secretary for Rural Development Kenny Flowers. Grants can support a variety of activities, including infrastructure development, building renovation, expansion and demolition, and site improvements.
“These grants allow us the opportunity to unite good businesses with good people,” N.C. Commerce Secretary Machelle Baker Sanders said. “While businesses will benefit from access to our high-quality workforce, our rural communities will expedite their post-pandemic economic recovery through the creation of hundreds of well-paying jobs and millions in private investment.”