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Hickory company receives $95k in city, state funding to upgrade vacant building

Hickory company receives $95k in city, state funding to upgrade vacant building

Only $5 for 5 months

The vacant building at 703 Main Ave. SW was once the site of a motorcycle parts shop. Hickory-based engineering firm Atriax will renovate the building for use as office space. 

A Hickory-based engineering firm will be moving to a new location and upgrading a vacant building near downtown with the help of $95,000 in public funding.

On Tuesday, the Hickory City Council approved agreements with the N.C. Department of Commerce and Atriax LLC so that Atriax Group can use $75,000 in state Building Reuse Grant funding for upgrades to the building at 703 Main Ave. SW.

The building at that address has been vacant since 2017 and once housed a motorcycle parts shop.

Under the agreement, the city will split the $3,750 match for the grant evenly with Catawba County, according to a memo in the council’s agenda packet.

Atriax will be investing $1.2 million in the renovation and will add 11 new employees for a total of 39 employees, according to documents in the council’s agenda packet.

The company plans to move to the new location from its existing office on Third Avenue NE.

The city also approved a separate $20,000 Vacant Building Revitalization loan with Riding the Rails LLC, a company set up by the owners of Atriax for the purpose of owning and managing the building.

The loan will be forgiven within three years if the company remains in the building for that period.

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