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Craven County approves local match for Project Home 2, citing $11.3M investment and 199 new jobs
Summary
The board approved a resolution and future budget amendment to provide a 50% local match ($250,000) for a $500,000 state rural infrastructure grant to support BSH's $11.3 million investment and creation of 199 jobs at its New Bern facility; the Craven Iron Alliance pledged $100,000 toward the match.
Craven County commissioners voted unanimously Sept. 2 to approve a resolution and authorize a future budget amendment supporting Project Home 2, a local expansion by manufacturer BSH that county staff said will involve $11.3 million in real estate, machinery and equipment and create more than 199 jobs over five years.
Jeff Wood, the county’s economic development director, told the board the North Carolina Department of Commerce awarded a $500,000 grant under the Rural Infrastructure Authority to assist the investment and that the county must provide a 50% match—$250,000—to receive the state funds. "Project home 2 is a local manufacturer BSH. The plan is to invest $11,300,000 in real estate machinery and equipment in its existing facility and create over a 199 jobs in 5 years," Wood said during the public hearing.
Wood said the Craven Iron Alliance executive committee recently approved a $100,000 contribution to be applied toward the county's match; county staff will later present a formal budget amendment to reflect the appropriation from proceeds of industrial park land sales. When asked by a commissioner where the county match would come from, Wood said, "It is from sales of land in the industrial park."
The board moved to adopt the resolution and approve the budget amendment authorization; a roll-call vote recorded unanimous approval. Commissioners did not add conditions to the resolution at the meeting. Wood asked for approval of the resolution, the budget amendment packet included in the meeting materials and any documents that would accompany the grant agreement between the state and the company.
The board’s approval authorizes staff to execute the county-side documents needed to accept the state grant and provide the local match if and when the state grant agreement is finalized. Wood said the item will return later with the formal budget amendment reflecting the $100,000 Craven Iron Alliance contribution and the county's match funding source.
No members of the public signed up to speak during the Project Home 2 public hearing.
