Archived Story

Grants to help businesses expand

Published 5:10pm Wednesday, July 10, 2013

Washington has been awarded $200,000 in grant funds as part of a program to help five small businesses expand.

The grant funds come from the N.C. Department of Commerce’s Division of Community Investment and Assistance. The businesses will contribute money toward their projects. The grants come from the division’s Small Business and Entrepreneurial Assistance program.

Tayloe Drug Co. (Hospital Pharmacy) will receive $43,750 and contribute $111,000 toward job training, with the goal of creating two new jobs. Eastern Imports will receive $21,875 and contribute $9,000 toward the purchase of car lifts and equipment rehabilitation, with the goal of creating one new job. Pamlico Fence will receive $21,875 and contribute $25,000 toward buying a skid steer machine, with the goal of creating one new job.

FRE Plumbing will receive $21,875 and contribute $2,000 toward buying equipment, with the goal of creating one new job. Park Boat Co. will receive $65,625 and contribute $25,000 toward buying a truck and tractor, with the goal of retaining one existing job and creating two new jobs.

Their grants total $175,000. The remaining $25,000 of the grant funding will be spent on project planning and administration.

Under the SBEA program, businesses are eligible to receive up to $25,000 for each new job created or each existing job retained. Before the funds are released, specific conditions must be met. One of those conditions is that each business must provide the city with a signed promissory note in the amount equal to the grant awarded to that business. This protects the city should a business default on its agreement to create and/or retain jobs.

The businesses have until Jan. 16, 2015, to fulfill their job-creation requirements. They must retain the job(s) for six months at 35 hours per job per week.

Last year, the City Council voted 4-1 in favor of a resolution supporting the submission of an application to participate in the program. Councilman Doug Mercer was the lone vote against the resolution. Mercer said then he’s opposed to give-away programs, which he considers this program to be.

In addition to buying new property and building renovations, the program’s eligible activities include infrastructure improvements (water, sewer, roads) construction of a building or other improvements, construction of tenant improvements/finishes, leasing space in or buying an existing building, purchasing capital equipment and providing job training that can be linked to specific jobs at a specific business.

The grants and businesses’ contributions total $372,000.

  • PerceptionPlus

    So when the Republicans scream about lower taxes and less government, perhaps they could try to think and apply logic for a change — and know what the rest of us figured out a long time ago. This is big government run wild. Since when did the free enterprise and capitalism mean giving businesses our tax dollars to support their bottom line? Incredible! Where at the Tea Baggers when this type of hand-out occurs? I guess the Koch brothers can buy everything — even common sense. I think I’ll start a small business and let you, Washington tax payer, fund it. Insanity, pure insanity.

    This type of freebie is corporate welfare. Most of us know that there is no accountability for this hand-out. No fiscal agent to assure a job was actually created. It’s easy to fudge the paperwork, to fire and then rehire a worker. Wonder why Wall Street Greed Mongers rec’d millions of free dollars, taxpayer dollars, while hundreds of thousands of people lost their homes? It starts here, at this level when elected officials — people like our city council — give away money, yes GIVE AWAY your tax dollars, and you stand idly by and allow it to happen.

    Your tax dollars at work! Wonder how much $$ these companies paid to our current city council member’s campaign funds or what city council member’s family owns what business, has ties to what business — trace the $$, find the family member or best friend of a city council member. That’s my opinion. Shrug and laugh or get angry…

    While close to 170,000 unemployed North Carolinians will receive reduced or NO unemployment benefits while they are trying to find somewhere to apply for jobs (as in, they must apply at two separate companies A WEEK) — these companies receive tens of thousands of tax free bonus bucks to buy equipment for *alleged* undocumented illegal aliens to move boats, put up fences and more.

    This hand-out is paid for by YOU through your TAXES. Wake up and smell the nasty odor coming from Raleigh, the smell of bad money and political garbage bought and paid for by lobbyists and the Chamber of Commerce.

    OH heck, why am I even trying to get people to understand? It’s a small town and everyone scratches the back of government so they can have a piece of the pie, all the while screaming about Sharia law and Christian goodness.

    You are what you elect.

    (Report comment)

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