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The Briefcase: Purina made eligible for up to $49 million in incentives

The Briefcase: Purina made eligible for up to $49 million in incentives

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Purina eligible for up to $49 million in incentives

Nestle Purina PetCare Co. has been made eligible for up to $49 million in combined state and local economic incentives as part of opening a planned dry dog-food facility in Eden by 2022.

Purina confirmed Wednesday plans to create 300 jobs and invest $450 million in converting the former MillerCoors plant for its use. It plans to begin hiring in early to mid-2021. The company projects achieving its hiring commitment in 2024.

Senate leader Phil Berger's office said Purina is receiving a Job Development Investment Grant award of $4.3 million over 12 years.

According to a state Economic Investment Committee executive project summary, Purina also has been made eligible for up to $16.06 million in a state sales-tax exemption and an additional $4.8 million in state incentives.

Rockingham County has made Purina eligible for up to $19.08 million in incentives, along with $5.34 million from Eden.

The committee's report listed competing incentive offers from Batavia, Ohio, and the state of Ohio at $42 million, and Richmond, Ky., and the state of Kentucky at $40 million.

Richard Craver

Salisbury Court Apartments sells for $1.47M

The latest in a long run of Forsyth County apartment-complex sales occurred with the purchase of Salisbury Court Apartments for $1.47 million, according to a county Register of Deeds filing Thursday.

The buyer of the 40-unit complex at 1501 Old Salisbury Road is MB CCIG Holdings LLC, an affiliate of Grubb Properties of Charlotte. The seller is JJT LLC of Winston-Salem.

Grubb has made several residential real-estate investments in Forsyth in recent years, foremost plans to add 244 apartments in downtown Winston-Salem next to the 500 West Fifth tower owned by an affiliate of Flow Automotive Cos.

Grubb also is the developer of Link Apartments Brookstown near Truist Stadium. It is developing property in the Wake Forest Innovation Quarter that will provide 340 apartments, 5,000 square feet of retail space and a parking deck with 850 spaces.

At least 44 existing apartment complexes have sold in Forsyth over the past two years for a combined $433.5 million, mostly to out-of-state buyers.

Richard Craver

Goodwill buys former Rite-Aid property

Goodwill Industries of Northwest N.C. Inc. has spent $1.3 million to buy a former Rite-Aid property at 3601 Reynolda Road in Winston-Salem, according to a Forsyth County Register of Deeds filing Thursday.

An 11,710-square-foot building sits on a 1.33-acre site. The nonprofit retailer has nine stores in Winston-Salem.

The seller is S&H Winston-Salem LLC of Virginia Beach, Va.

Richard Craver

Home-furnishing sales remain strong

The reopening of additional home-furnishings retail stores in July contributed to a 5.7% increase in new orders, according to a monthly report released Thursday by Smith Leonard PLLC, a financial-services company in High Point.

The July orders were at $3.26 billion, up from $3.09 billion in June.

Orders also were up 38.5% from $2.36 billion in July 2019.

About 73% of survey participants reported a year-over-year increase in orders compared with a year ago.

Home-furnishings retail sales were at $10.2 billion in August, up 2.1% from July and up 3.8% from a year ago, the U.S. Commerce Department reported.

Ken Smith, the firm’s director of furniture services, said the July orders “have shown that there really was pent-up demand out there. But most believe staying at home caused many people to take notice of their furniture and make decisions to go out and buy whether they had planned to or not before the pandemic.”

Richard Craver

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