HIGH POINT — The city has pledged matching funds for a project that officials said will create jobs, add to the tax base and renovate an existing building in need of improvement.
Ariston Hospitality, a contract furniture manufacturer, plans to establish a factory at 1581 Prospect St., possibly with assistance from a state building reuse grant of up to $90,000.
CEO Tony Tsai founded the company in the Los Angeles area in 2008 and said he is planning a High Point presence to be closer to his customers, which include high-end hotels and resorts.
His company purchased a vacant industrial building in July and within two years plans to create 15 new jobs there with average wages of $37,147.
He plans to invest $1.52 million in upgrades to the building, including a new roof, as well as heating and cooling systems.
“It needs a lot of work, but the structure’s good. The bones are good,” Tsai said.
His company also bought the adjacent building at 1579 Prospect St. and may occupy a portion of it and lease out the remainder, according to interim economic development director Sandy Dunbeck.
The City Council on Wednesday unanimously approved a $3,600 local match for the state grant.
Randolph County has approved its 20% share of the match, which is $900. Part of the 1.3-acre property is in Randolph County.
Officials hope the state will approve the grant in December, Dunbeck said.
Also Wednesday, the council unanimously approved annexation and rezoning requests for a 6.8-acre site at 8229 Tyner Road where Hunter Commercial Properties of Kernersville is planning a 79,000-square-foot warehouse/distribution facility.