FINANCIAL_SERVICESPENDING

Town of Rocky Mount Council Meeting Agenda April 13 2026

Performance grant incentive for M W Manufacturers expansion

Up to $33,330Town of Rocky MountM W MANUFACTURERS INCApril 13, 2026

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Description

Rocky Mount is preparing a performance agreement with M W Manufacturers Inc. to provide a grant of up to $33,330 as the Town’s local match to a $100,000 state Development Opportunity Fund award. The incentive is tied to M W Manufacturers’ planned $4.9 million facility expansion and creation of 50 new jobs by September 30, 2028.

Contract Details

Contract Amount

Up to $33,330

Vendor

M W MANUFACTURERS INC

Agency

Town of Rocky Mount, VA

Contract Type

FINANCIAL_SERVICES

Document Date

April 13, 2026

Contract Term

Agreement effective upon execution in 2026 through Performance Date of September 30, 2028, plus compliance and record-keeping obligations for five years after each fiscal year; performance date may be extended up to 12 months

Renewal Date

2028-09-30

Renewal Info

One-time incentive agreement; no automatic renewals. The Town may extend the Performance Date by up to 12 months upon written request if at least 90% of capital investment and job targets are not achieved, or terminate the grant obligations if targets or reporting requirements are not met.

Issuing Agency