SOURCE: AEDC

AEDC

July 08, 2010 16:43 ET

AMARK Expansion in North Carolina Supported by Grants From Golden LEAF Foundation and North Carolina Rural Economic Development Center

ELIZABETH CITY, NC--(Marketwire - July 8, 2010) -  Economic development success continues to come to North Carolina. Today the Albemarle Economic Development Commission (AEDC) announced that the Golden LEAF Foundation and the North Carolina Rural Economic Development Center have awarded grants to assist AMARK Corp.'s plans to expand into Elizabeth City, N.C. The news follows Gov. Beverly Perdue's announcement yesterday that the Virginia company plans to create 43 jobs and invest $1.9 million, including lease payments, over the next three years.

"AMARK's decision to expand in Elizabeth City is a tribute to the power of cooperation and partnership," said Elizabeth City Mayor Roger McLean. "With the help of Gov. Perdue, these 43 well-paying jobs will be coming to Elizabeth City."

To aid AMARK's expansion, Golden LEAF is providing an Economic Catalyst grant of $161,000 for the purchase of equipment valued at $161,000 by Elizabeth City. The City, in turn, will lease the equipment to AMARK at a fair market rate. The award provides the required local match of a $126,000 grant from a One North Carolina Fund, which provides financial assistance, through local governments, to create new jobs in the state. 

"The Golden LEAF Foundation is pleased to support the expansion of a small business in Northeastern North Carolina," said Dan Gerlach, Golden LEAF President. "AMARK's commitment to Elizabeth City shows the potential for growth in skilled jobs in the area."

The North Carolina Rural Economic Development Center is providing additional assistance for AMARK. The Center will reimburse Wheeler Interests, Inc., the owner of the building AMARK will occupy, for 50 percent of renovation costs up to a maximum of $144,000.

Elizabeth City will administer all three grants.

"This was a complex project, and we are happy to have been able to coordinate the effort," added AEDC Chairwoman Anita Hummer.

AMARK Corp. (www.amarkcorp.com), with locations in Suffolk and Richmond, fabricates steel and pipe for multiple uses in both general and industrial construction applications. The company plans to expand operations into North Carolina by leasing an existing building that will be converted into a fabrication shop to cut, weld and fabricate steel structures and other metals. Salaries will vary by job function, but the annual average wage will be $36,618, excluding benefits. 

Headquartered in Elizabeth City, the AEDC (www.discoverEC.com) markets business opportunities in Elizabeth City and Pasquotank County to prospective employers throughout the United States. Call at 1-888-338-1678 or (252) 338-0169.

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Press Release

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