Commissioners Monday night approved incentive grants to entice two existing industries into investing millions and deepening their roots in Lincoln County.
B.R. Lee Industries, located on N.C. 16 in Denver, plans to invest $10.5 million in a new facility in the Lincoln County Industrial Park.
Known as LeeBoy, the company is the worldâ€™s leading manufacturer of asphalt paving equipment.
The industry has experienced phenomenal growth and simply has no more room to expand at its current site, said Laura Foor, existing business coordinator for the Lincoln Economic Development Association.
â€œThey are basically landlocked,â€ Foor said.
The new 200,000-square-foot facility would mean a $10.5 million investment for LeeBoy. Since a move is imperative, keeping the company in Lincoln County will save about 280 jobs.
Commissioners will give LeeBoy grants of $46,035 a year for five years.
LeeBoy is Lincoln Countyâ€™s ninth largest employer.
The countyâ€™s largest industrial employer, RSI Home Products, wants to expand its facility in the Industrial Park by 225,000 square feet.
The expansion would create at least 150 new jobs and represent a $9.25 million investment.
Commissioners will give RSI $39,525 per year for five years if the company agrees to the investment.
RSI has three facilities in Lincoln County and employs 1,000 people.
Commission Chairman Tom Anderson thanked both companies for their investments in Lincoln County.
â€œWe are just thankful that youâ€™re staying with us,â€ he said. â€œThese companies mean a tremendous amount to us.â€ by Alice Smith