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Newton Council authorizes application for Building Reuse grant to pursue international manufacturer
Summary
Newton authorized submission of a Building Reuse Grant application after city staff said an international firm is considering a building purchase that could bring more than $6.5 million in investment and at least 40 jobs; council approved the resolution unanimously and agreed to a local 5% match (estimated $10,000 to be split with the county).
The Newton City Council unanimously approved a resolution Sept. 1 authorizing the city to apply for a Building Reuse Grant through the N.C. Department of Commerce to support private investment in an existing Newton building.
City Manager Todd Clark told council that the Catawba County Economic Development Corporation is in talks with an unnamed international company interested in using a Newton facility for transportation component manufacturing. Clark said the project could involve more than $6.5 million in property improvements and create over 40 jobs in the first three years, potentially growing to about 80 jobs within five years. Because the Building Reuse Program requires a local match, Clark said the city’s minimum 5% match on a projected $200,000 grant would be about $10,000; staff said Catawba County has been asked to split that match so each local government would provide about $5,000.
Staff recommended the council adopt the authorizing resolution so the city can file the grant application and administer program funds if awarded. Mayor Pro Tem John Stiver moved approval; Council Member Ed Sain seconded the motion, which passed unanimously.
City staff said they will file the application on behalf of the prospective company and will return with further details if the grant is awarded or if negotiations with the company advance. The applicant’s name was not disclosed in the minutes due to pending contractual agreements, and the investment and job figures were presented as staff estimates.
