Petty's Garage seeking building reuse grant

November 7, 2016

ASHEBORO — The Randolph County Economic Development Corp. (EDC) asked county commissioners Monday to step up for two business projects, one in Level Cross and the second in Trinity.

Petty Garage is asking for assistance to apply for a building reuse grant, according to Bonnie Renfro, EDC president.

In Trinity, city officials are asking commissioners to support the city’s application for an N.C. Economic Infrastructure Program grant for Younts Machine Company. If Trinity is successful in its grant application, the county would be asked to provide a 5 percent match.
Petty’s Garage is seeking a building reuse grant to assist with the cost of renovation and repairs to existing facilities located at their operation in Level Cross. The county’s match on the $7,685,000 project would be $8,500 and would require a public hearing for final approval.

The project would create 17 new full-time jobs and result in new capital investment of $2,415,000 within two years. The company currently employs 33 at Petty’s Garage and the Richard Petty Museum in Level Cross.

The project will expand the manufacturing of automotive parts and provide increased capacity for custom restoration and modification of the classic and OEM aftermarket automotive business. The company already has a six- to eight-month waiting period despite doubling its production area.

The company designs, develops and produces its own automotive parts for use and sale. The company’s future plans are to bring engine building that is currently outsourced back to the garage and to establish a classic car dealership to market and provide opportunities for the loyal and growing customer base.

Renfro said the grant request is time sensitive to comply with the current funding cycle of the Rural Infrastructure Authority of the N.C. Department of Commerce and to meet the company’s immediate needs. She asked the board to schedule time at its Dec. 5 meeting to hear and consider the final details of the project and the matching grant.

Source: Courier Tribune