Grant boosts TDY (ATI Specialty Materials) expansion
24 August 2015
By Heather Smith, The Enquirer Journal
North Carolina Commerce Secretary John E. Skvarla, III, and Assistant Secretary for Rural Economic Development Dr. Patricia Mitchell announced this week that the North Carolina Rural Infrastructure Authority (RIA) approved 14 grants totaling about $4.6 million. The requests include commitments to create a total of 330 new jobs across the state.
The RIA reviews and approves funding requests for grant programs operated by the Rural Economic Development Division at the N.C. Department of Commerce. Grants support infrastructure development, building renovation and site improvements.
Monroe was one of two municipalities to receive funding under the economic infrastructure program.
The city received a $237,500 grant for water and sewer infrastructure to support an expansion by TDY Industries, LLC (which does business as ATI Specialty Materials).
The company is building an additional 150,000 square foot facility to accommodate an expansion. The grant supports a total investment of about $70.4 million in Monroe and will create about 48 jobs, according to a statement from the N.C. Department of Commerce.
The Economic Infrastructure Program provides grants to local governments in the 80 most economically distressed counties to assist with infrastructure projects that will lead to job-creation. Water and sewer lines, wastewater treatment plants, natural gas lines, public broadband infrastructure, roadways and rail spurs are examples of infrastructure covered under program guidelines, according to the commerce department.
ATI announced an expansion in Union County in June.
“I think (the expansion) continues to demonstrate that Monroe is a significant player within the international aerospace arena,” Chris Platé, executive director of economic development and aviation in Monroe, said in June. “(It) further solidifies ATI’s commitment to Monroe and Union County.”
Monroe gave the company the 57-acre park where the new facility will be built. Platé said in June it is worth about $1.058 million and the county gave the company a five-year incentive worth about $1.49 million for the expansion.
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