State approves city funding request for AlloyWorks expansion
SALISBURY — The North Carolina Rural Infrastructure Authority has approved a $300,000 Rural Building Reuse grant to support the renovation of a building that AlloyWorks might use to expand its Salisbury operations.
The funding request was submitted by the city of Salisbury with assistance from Rowan EDC.
The Rural Infrastructure Authority is a board of the state Department of Commerce that awards rural community development and utility account grants, according to the Department of Commerce website.
If AlloyWorks chooses to expand in Salisbury, it would create 24 jobs and draw $18,623,800 in private-sector investment, according to an email from Department of Commerce spokesman David Rhoades.
Rowan EDC President Rod Crider said AlloyWorks is not waiting to hear back about any other state grants.
Crider said AlloyWorks will have 90 days to make a decision from the day the funding request was approved — Oct. 19 — if it wants to take advantage of the $300,000 grant.
AlloyWorks is deciding whether to expand in North Carolina, Nevada or Pennsylvania.
Crider said the company is “obviously very pleased” that the state approved the funding.
“And (we) are hopeful that that will provide the incentive needed for AlloyWorks to do their expansion here,” Crider said.
Contact reporter Jessica Coates at 704-797-4222.