Written on: August 22, 2022 by ICM
The North Carolina Rural Infrastructure Authority (RIA) recently approved a grant involving the relocation of HVAC installation and repair company Stout Heating & Air, Inc., to the City of Salisbury in Rowan County, NC. The $75,000 grant will support the reuse of a 5,600 sq ft building. The company is expected to create 11 jobs and invest $1,717,337 in this project.
In all, the RIA approved 13 grant requests under the state’s Building Reuse Program in two categories, Vacant Building and Existing Business Building, and another 2 grants for industrial/utility development for a total of $4.28 million in investments and the creation of more than 500 new jobs.
“When North Carolina’s rural communities succeed so does our whole state,” North Carolina Governor Roy Cooper said. “These grants will stimulate more economic growth in rural North Carolina by improving buildings and other infrastructure to facilitate the creation of good jobs.”
Funding comes from a variety of specialized grant and loan programs offered and managed by N.C. Commerce’s Rural Economic Development Division. Grants can support a variety of activities, including infrastructure development, building renovation, expansion and demolition and site improvements.
“Rural infrastructure grants are examples of the strong, innovative collaboration between the state and local governments that have helped North Carolina to be recognized as America’s top state for business,” NC Commerce Secretary Machelle Baker Sanders said. “We are proud to partner with rural communities to bring new jobs and investment to all corners of our great state.”