C.R. Onsrud Expanding Operations In Iredell County
C.R. Onsrud, specializing in high quality routers and CNC machinery designed for the aerospace, woodworking, plastics, and composites industries is expanding their existing building to accommodate new equipment and constructing additional buildings in Troutman, NC.
The Town of Troutman approved an economic development incentive grant on Wednesday, November 10, 2021 to C.R. Onsrud in the amount up to $334,421 based on a capital investment total of $17.2 Million, the creation of up to 25 jobs, and with an average wage at or above the average county wage of $51,130 by December 31, 2023. The grant is performance based and would be paid over 5 years based on 80% of real property and tangible personal property taxes generated.
The Town of Troutman has also authorized the Town Manager to execute an application to the North Carolina Department of Commerce for a Rural Building Reuse Grant in the amount of $125,000 to be used in support of the expansion.
C.R. Onsrud, Inc. is located at 120 Technology Drive, Troutman, NC 28166.
For more information about the company visit the company’s website, www.cronsrud.com.