Severn Peanut receives Building Reuse Grant

Published 12:14 pm Tuesday, May 23, 2017

JACKSON – The Northampton County Board of Commissioners were asked on May 15 to approve a resolution supporting Severn Peanut Company’s Building Reuse Grant application to the state. The county’s Economic Development Commission staff recommended that the Board approve.

The state grant of $210,000, awarded by the North Carolina Department of Commerce, will go towards the company’s plan to expand and renovate their in-shell roasting operations. The old building, degraded by salt processing operations over the years, has been demolished and will be replaced with a new one with new equipment.

The grant amount of $210,000 is determined by the amount of jobs created for the project, with up to $10,000 per job.

The project will create 21 new full-time jobs with average wages of $31,900 annually. The county anticipates that the revenue from ad valorem taxes will be approximately $47,500.

The counties participating in this Building Reuse Grant are required to make a five percent match of funds, which will be $10,500 for this particular case.

By acknowledging that this improvement project will be good for economic development and the county’s tax base, the Commissioners voted unanimously to endorse Severn Peanut’s application for the Building Reuse Grant and provide the local fund match required.