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Commissioners approve local match for Ramsour manufacturing project; company pledges renovations and 22 jobs
Summary
The board approved providing half of a required 5% local match ($4,375) to support an NC Department of Commerce building reuse grant for Earth Retention Industries, which pledged at least $350,000 in renovations and 22 jobs averaging $57,048 annually.
The Randolph County Board of Commissioners voted to provide one-half of a 5% local match required for a North Carolina Department of Commerce building reuse grant to support Earth Retention Industries’ planned operations in Ramsour.
Crystal Geddy presented the proposal and said the company "is committed to an investment of at least $350,000 in building renovations" at 7718 U.S. Highway 64 East and expects the total investment in renovations, machinery and equipment to exceed that committed amount. Geddy told commissioners the company plans to create 22 new jobs with an average annual wage of $57,048, which exceeds the county average wage.
The grant under consideration was for $175,000 and requires a 5% local cash match ($8,750). The town of Ramsour requested that the county provide half of the county’s share, $4,375. The board opened the required public hearing, heard no speakers on the item, and approved a resolution authorizing submission of the grant application and the county match by voice vote.
Commissioners noted that the grant award was pending approval by the North Carolina Department of Commerce and that the funding and any agreement would include performance measures and guarantees should the company fail to meet job or investment metrics.
Next steps: county staff will finalize the resolution and coordinate the matching funds with the town and the EDC if the Commerce grant is approved.
