The state of North Carolina has high hopes for a recent Rural Infrastructure Authority grant investment.
With the 24 grants recently issued by the state at a cost of $7.7 million to local governments, the Center Square reported state officials are eyeing investment returns of as much as $294 million and more than 1,300 jobs.
“Many rural communities across North Carolina are experiencing economic growth because their infrastructure has prepared them for opportunity,” North Carolina’s Commerce Secretary Anthony Copeland said in a statement. “That’s why it is so important that we continue to make strategic investments like these Rural Infrastructure Authority grants, which will support good jobs and make rural areas more competitive.”
Grants can be used for anything ranging from construction to renovation, expansion and demolition and site improvements. Many of the ones now being announced are expected to go toward renovating old and vacant structures for new businesses.
“The projects approved for grants today will help rural North Carolina attract jobs, support business expansion and prepare sites for future development,” Assistant Secretary for Rural Development Kenny Flowers said.
An appointed board, the Rural Infrastructure Authority has control over the allocation of various economic grants offered by the North Carolina Department of Commerce.
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