Saturday's Internet Edition, May 17, 2008.
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According to county manager Terry Bralley this is Avgol’s third expansion on the Davie facility.
Avgol acquired Unifi Nonwovens in Mocksville in June 2001, and have performed expansions in 2004 and 2005 at this factory, according to the Avgol website.
An approximate investment of $300,000 from the county and $200,000 from the town, each from general revenue funds, is being considered.
Avgol must construct a 45,000 square foot addition to its existing plant at a cost of at least $25 million and create 25 to 40 new jobs.
The way the incentive amount is determined, according to Bralley, is 2% of the $25 million (the county gives 60% and the town gives 40%).
The investment is expected to be returned to the county and town in tax revenue derived from the project within three years, according to Bralley.
The incentive money will only be paid once construction is complete and the jobs are created, according to Bralley.
“We’re excited that this vision is coming to light,” Bralley says. “It’s exciting. What a great way to start 2008.”
Public comments on the proposed incentive money will be heard at the commissioners meeting room of the Davie County Administration Building, 123 S. Main St., Mocksville at 5:30 p.m. on Monday ... subscribe to the Davie County Enterprise Record, P.O. Box 99, Mocksville, N.C. 27028.