County Approves More Than $126,000 In Economic Development Incentive Grant Funding To M.R. Williams, Inc.
The Vance County commissioners on Monday approved more than $126,000 in economic development incentive grant funding for local wholesaler M.R. Wiliams, Inc., which is planning to embark on a $4 million capital improvement project.
M.R. Williams, Inc., located at 230 Raleigh Road in Henderson, plans to add 20,000 square feet of freezer space, as well as expand the warehouse and office areas.
The business currently employs about 250 people, and expects to be able to add at least 25 employees by the time the project is completed.
The grant, which totals $126,821, would be distributed basically over a 5-year period and is part of an effort to support economic development in the county – especially the creation, maintenance and retention of jobs, according to the agenda packet information. The grant specifies certain criteria that the company will have to comply with to continue to receive the funding. The project is estimated to add at least $4 million in real property improvements.
The grant will provide financial support to a local business that has a positive impact on the local economy and is designed to be an incentive for businesses like M.R. Williams to stay in the area and continue to provide jobs for the community.