Report: “Pacon Manufacturing Receives $700K Grant to Renovate Brunswick Site”
Earlier this month, NC Governor Roy Cooper announced Pacon Manufacturing’s decision to open a new manufacturing plant in the former U.S. Marine facility in Navassa. Pacon’s plans appear to be moving forward with the recent announcement that North Carolina’s Rural Infrastructure Authority has approved a $700,000 Building Reuse Grant to help support the renovation of the former U.S. Marine facility in Navassa. Last Friday, Jenny Callison of the Greater Wilmington Business Journal published an article on this new development. In the article, Callison states:
“Pacon Manufacturing’s plans to open a facility in Brunswick County received a major boost this week when the state’s Rural Infrastructure Authority approved a $700,000 grant to support renovation of the former U.S. Marine facility in Navassa, where Pacon will locate.
The grant requires a 5% local match from the county, totaling $35,000.
Renovation expenses are estimated at about $2 million, according to Bill Early, director of Brunswick Business and Industry Development (BID). The Rural Infrastructure Authority’s Building Reuse Grant will help offset that expense, but Pacon must do the work and pay for it first, Early explained in a conversation earlier this month about how the grant would work if it were approved.
‘The company would have the renovation done and submit the invoices and proof of payment,’ Early said. ‘The [grant] money would come to the county, and the county then would forward it to Pacon.’
Only ‘approved and eligible’ upfit expenses would be reimbursed from grant funds, Early explained…”
To read the full article by the Greater Wilmington Business Journal, click here.