Grant helps Norwood expand business
Released at 3:26 pm on Thursday, December 8, 2022
The North Carolina Rural Infrastructure Agency (RIA) has approved 14 grant requests totaling $2,979,648 to local governments, Gov. Roy Cooper announced Thursday.
The $2.9 million in funding adds to the more than $42 million already awarded this year, making 2022 a record year for RIA’s investments in rural North Carolina. The request includes a commitment to create a total of 494 jobs, 128 of which were previously announced. Public investment in these projects will attract more than $295 million in private investment.
“Using these infrastructure grants to help rural North Carolina thrive will make the state as a whole more economically competitive,” Cooper said. “We strengthen our communities through strategic investments in facilities and locations that provide good jobs.”
The North Carolina Department of Commerce’s team of Rural Economic Development Experts supports the work of the RIA. RIA members review and approve funding requests from local communities. Funding will come from a variety of specialized grant and loan programs offered and administered by NC Commerce’s Division of Rural Economic Development, 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.
“With these latest RIA grants, our rural programs have invested more than $87 million in rural communities this year, which will help us achieve a new banner year for economic development in North Carolina. NC Commerce Secretary Machel Baker Sanders said. I am pleased to
The RIA has approved 12 grant applications under the state’s Building Reuse Program in three categories: Vacant Buildings, Existing Business Buildings, and Rural Health.
In the existing commercial buildings category, a $120,000 grant will support the expansion of Norwood buildings owned by New Finish Inc., a sandblasting and powder coating company that finishes metal surfaces for the automotive industry. The company plans to add his 30,000 square feet to the existing facility. The project will create 15 jobs for his $3,464,225 investment by the company.
Performance-based incentives hearings were held by the Town of Norwood on November 7th and by the County of Stanley on November 21st. The purpose of local incentives is to encourage new investment and induce job creation.
Founded in 2001, Steve and Brenda Bradley’s dream was to open a small powder coating shop to support their family of four. Together, they have grown the business beyond their own expectations by gaining commercial customers and supporting local walk-in customers.New Finish expanded in his 2003 and 2010 , added trucking finished goods to commercial customers.
Steve Bradley is excited about the company’s continued growth.
“We have grown from just two people to 60 employees. Employees are the foundation of our business. We have a very diverse team of people, We are a big family.Thanks to our solid group, our reputation in the industry is one of quality products with on-time delivery.Sales are growing steadily and many new We have gained commercial customers and it’s time to expand again to accommodate new products. We look forward to adding more team members once the expansion is complete.”
Brenda Bradley added: Members, Customers, Community Leaders, Community People. I am honored to call Norwood, North Carolina home. ”
Local leaders recognize the investment and jobs created by New Finish’s continued growth.
“On behalf of the Stanley Commissioner and Stanley County, I am thrilled with the expansion of New Finish. I look forward to the growth and good work this will bring to Stanley County. Committee Chairman Scott Effard said.
Norwood Mayor Linda Campbell added: We look forward to adding to this business and are happy to offer incentives to support this growth. Norwood is excited to see our town grow even more and will do what it takes to partner with future businesses. ”
