Reprinted with permission from
The Courier=Times Online

The money for the incentive, according to City of Roxboro Finance Director Jimmy Overton, will come from a Community Development Block Grant (CDBG) revolving loan fund.

"That was set up 15 years ago with Roxboro Dye," Overton said. "For the last seven years, we've been using the money to make loans to businesses."

Overton said there was currently $150,000 in the fund.

"That is money that is set aside for economic development," Overton said. "It will not affect the general fund or the water fund. We can take that [$62,500] out of there and still have [approximately] $90,000 left."

Roxboro Mayor Steve Joyner also pointed out that providing the incentive money would not alter the current year's budget or the 2005 fiscal year budget, which will go into effect July 1.

Dill currently operates out of the Eaton facility on the Durham Road. That facility formerly housed Air Controls Products, a division of Eaton, which was purchased by the group that owns Dill Air Controls Products.

Dill officials are looking at possible locations in Person County to relocate their operations to and have also considered the former Lenox China building in Granville County and other sites in South Boston, Va.

Dill has been able to land a state-supported incentive grant of $125,000 from the One North Carolina Fund. Monies in the fund are set aside to keep businesses in North Carolina.

The stipulation to the grant from One North Carolina Fund is that it requires a matching figure. Person County Economic Development Director Glen Newsome proposed that the City of Roxboro and Person County government each put forth $62,500 to cover the matching portion.

Joyner told council members Tuesday that if Dill left Roxboro and Person County, the City of Roxboro would stand to lose $30,000 to $34,000 in property tax revenue and $40,000 to $50,000 in water sales.