Commissioners appropriate $330K for business expansions
January 3, 2017
ASHEBORO — Randolph County commissioners voted for the appropriation of $330,000 for two economic development projects that would create a total of 29 jobs.
The requests came Monday night during the commissioners’ January meeting.
The first request was by Youngs Machine Co., which plans to expand by building four 15,000-square-foot buildings on 8.68 acres at the intersection of Turnpike Road and Turnpike Court in Trinity. The company will invest $4 million in the project and has applied for a grant that calls for matching funds of $61,250 each from Randolph County and the City of Trinity.
The expansion is expected to create 15 full-time jobs paying an average of $43,225 over an 18- to 24-month period. Construction is expected to begin in the first quarter of 2017.
Younts Machine has been in business since 1987 and in the current facility since 1993. The company is a machine shop with a seasoned workforce of 14 full-time employees and an established customer base. The company does not have adequate property for an expansion at the current facility, which is now at maximum production capacity. There are now sufficient inquiries from current and prospective customers to warrant an expansion, according to the information provided.
The second project, nicknamed Blue Angel, is by Pilgrim’s Pride Corporation, one of the world’s largest chicken processors. The company plans to invest $13 million to renovate an old feed mill in Staley and resume feed production.
The proposed match from Randolph County is in two phases. The first, for $3,750, is a 5 percent local government match for a building reuse grant. The second phase is a matching grant of $265,000 toward the estimated $800,000 cost of running water lines to the mill from the Town of Liberty. The town has agreed to chip in another $135,000 match toward the water line.
Source: Courier Tribune
By Larry Penkava email@example.com Twitter: @larrypenkavaCT