The North Carolina Rural Infrastructure Authority (RIA) has approved 15 grants totaling more than $5 million for local governments across the state. The funding is expected to help create 702 jobs, of which 386 had been previously announced, and to draw over $104 million in private investment.
The RIA, a 17-member board, oversees several grant programs such as the Building Reuse Program and the Industrial Development Fund – Utility Account program. These programs support projects like renovating vacant buildings, expanding facilities for existing companies, and constructing healthcare centers in rural areas of North Carolina.
Of the 13 grants approved under the Building Reuse Program, 12 were awarded to companies represented by the Economic Development Partnership of North Carolina (EDPNC).
The RIA also sets policies and priorities for grant and loan programs managed by the Rural Economic Development team at North Carolina Commerce. Its members are appointed by the Governor, Speaker of the House, and Senate President Pro Tem. The Secretary of Commerce serves as an ex officio member.
“The Economic Development Partnership of North Carolina (EDPNC) is a private nonprofit corporation that serves as North Carolina’s statewide economic development organization. Governed by an 18-member board of business and industry leaders from across the state, the EDPNC focuses on business and job recruitment, existing industry support, international trade, tourism and film marketing. The EDPNC, which operates under contract with the North Carolina Department of Commerce, works closely with public- and private-sector partners at the state, regional and local levels. To learn more, visit www.edpnc.com,” according to information provided about EDPNC.
More details about NC Commerce’s Rural Economic Development Division can be found at www.commerce.nc.gov/rural-economic-development-division.
