Repreve Renewables first company to benefit from new county grants
By Steve Herring
Published in News on August 21, 2015 1:46 PM
Greensboro-based Repreve Renewables will be the first company to benefit from an incentive program unanimously approved Tuesday morning by Wayne County commissioners.
The grant would be for a total of $37,284 over a five-year period, provided the company makes the promised investment and number of new jobs.
The company, which makes bedding for the poultry industry, plans to make a $2.8 million investment and create seven new jobs.
Repreve Renewables is a new industry for the county, but already does business with several Wayne County farmers as well as some in adjoining counties.
"They also have growers in Wayne County who help grow the grass and they take that and process it into a bed lining for the poultry industry," Wayne County Development Alliance President Crystal Gettys told commissioners. "They are doing this because the bed lining and everything are becoming harder to obtain.
"They (potential bedding material) are being treated and are not as environmentally safe for the poultry industry. So they have created this bed lining. They are in six different states right now. They want to come in and start up a processing plant to manufacture this bed lining here in Wayne County because of the fact that they have lot of customers in this area. Butterball is one."
The company plans to start on the project by or during November.
"Of course, they have two years from the time they start their project to complete it," she said. "They have an estimated investment amount of $2,821,755. Of that, $1,725,126 qualifies for the incentive grant. That is a Level I 65 percent cash grant after they pay their taxes.
Out of the $1.7 million qualifying, the county would issue a cash grant of $7,439 per year for a five-year period for a total of $37,284, she said.
Mrs. Gettys said she would work with the county tax department and that the grant amount will be adjusted up or down based on the actual assessment of the company's investment.
The company plans to create at least seven new jobs paying an average weekly wage of $1,053, which is above the county's average wage, she said.
"The jobs (numbers) are low, but that is the number of full-time jobs they plan to create," she said. "They do have a lot of seasonal jobs. One thing I like about this company, when they came and talked to me they had already contacted one our industries that has seasonal employees as well.
"They are working out a deal with them. Because their seasons are opposite each other they are going to be able to employ those part-time and seasonal employees on those off seasons where they would typically be laid off. So it is another benefit for us to have this company in place. Not to mention they are generating income for our farmers. It is a good company to have."