Wahpeton Council Approves Grant for WCCO Expansion, Article in Wahpeton Daily News
Sales tax for development money will be used to buy down interest on loan
Excerpt from article by Frank Stanko
With an 8-0 vote Monday, March 19, the Wahpeton City Council approved allocating up to $128,571.53 as an interest buy down grant for an expansion project by WCCO Belting, Inc.
The money comes from Wahpeton’s sales tax for economic development fund. WCCO’s project is expected to cost $3 million, with the first $1 million funded by the Bank of North Dakota’s Flex PACE program. The next $2 million is financed by new market tax credits.
“It is estimated that 10-15 new jobs will be created with the expansion,” Councilman-at-Large Lane Wateland said.
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