Contact: David Rhoades
The North Carolina Rural Infrastructure Authority (RIA) has approved a $150,000 grant to Davidson County, Governor Roy Cooper announced today. A commitment to create 21 new jobs and a private investment of $192,155 are tied to the grant.
“Rural Infrastructure Authority grants like this one help our communities address building needs so they can grow and attract good jobs,” Governor Cooper said. “This new venture underscores our state’s strength in motorsports and automotive equipment manufacturing, thanks largely to the resilient, skilled workforce and excellent quality of life found in rural North Carolina.”
This grant will support the reuse of a vacant, 24,960-square-foot building in Lexington. At this location, Childress Technologies, LLC -- a new subsidiary of RCR Enterprises, LLC -- will develop and manufacture engine components for the major manufacturers associated with NASCAR, as well as other motorsports and automotive applications. After spending the last few years performing research and development at a leased facility in Indiana, the company now plans to begin their manufacturing operations.
“Our Rural Economic Development Division and the Rural Infrastructure Authority are pleased to be able to partner with our local communities to welcome new companies to the state,” N.C. Commerce Secretary Machelle Baker Sanders said. “Since North Carolina is the birthplace of NASCAR and boasts the largest manufacturing workforce in the Southeast, our state is a natural home for growing manufacturers.”
The RIA approved Davidson County’s request as part of the state’s Building Reuse Program. The program provides grants to local governments to renovate vacant buildings, renovate and/or expand buildings occupied by existing North Carolina companies, and renovate, expand or construct health care facilities that will lead to the creation of new jobs in Tier 1 and Tier 2 counties and in rural census tracts of Tier 3 counties.
The North Carolina Department of Commerce’s team of rural economic development professionals supports the RIA’s work. RIA members review and approve funding requests from local communities. Funding comes from a variety of specialized grant and loan programs offered and managed by N.C. Commerce’s Rural Economic Development Division, 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.
In addition to reviewing and approving funding requests, the N.C. Rural Infrastructure Authority formulates policies and priorities for grant and loan programs administered by N.C. Commerce’s Rural Economic Development team. Its 17 voting members are appointed by the Governor, Speaker of the House and Senate President Pro Tem. The North Carolina Secretary of Commerce serves as a member of the Authority, ex officio.
For additional information about N.C. Commerce’s Rural Economic Development Division, visit nccommerce.com/rd.