According to a report in the Henderson (N.C.) Daily Despatch, the state of North Carolina has approved a $450,000 building reuse grant to subsidise the renovation of Bridgestone-Bandag’s tread rubber plant in Oxford, NC.
$450,000 Subsidy Approved
The grant comes after Bridgestone pledged to invest $1.6 million in the renovation of the facility and create 61 new jobs and is one of several grants offered by the state to businesses in the same industrial area in recent months.
According to the report, Bandag’s project qualified for the subsidy because Granville County, where the plant is located, is categorised as a “Tier 2” county, one of the second 40 worst-off counties in the state.
State Governor Roy Cooper was quoted as saying; “investments in rural North Carolina have a positive impact on our state’s overall success, and building-reuse grants help communities like Granville County create good jobs, improve the quality of life of their residents and boost the local economy.”