NAPCO incentives on agenda for Dec. 6

A public hearing is scheduled for Dec. 6 at 7 p.m. to discuss economic incentives to be offered to a local company to create 25 new jobs. The company, NAPCO, had not been named in earlier information provided by the Rural Center that stated a local business was planning to expand into the former Sara Lee Knit Products (Spring Ford) building. The building is located at the intersection of Trojan Avenue and Cox Street.

A grant for $250,000 was at that time tentatively announced for the company to help fund building improvements, but that grant will not be officially awarded until next week. “Dec. 9 is the date when the official grant award will be announced,” Adams said. “We’re still in the application process with the Rural Center.”

As for Alleghany County’s proposed contribution to the deal, Adams said it amounts to a total of $31,500. Of that money, $12,000 would be given up-front to help fund matching grants.

One of the grants being matched with the money is a $12,000 grant from AdvantageWest.

Those funds, totalling $24,000 with the match, would help fund legal costs, environmental costs, engineering fees, and other similar costs, Adams said. He said those costs are typically referred to as ‘soft costs.’

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