Tenowo announces $4.5 million building and equipment expansion.
Lincolnton, NC, May 20, 2019- “Lincoln County existing industry, Tenowo Inc., is planning to invest over $4,500,000 in equipment and building facility in Lincolnton, NC” said John Dancoff with Lincoln Economic Development Association. Dancoff presented a request to the county commissioners on Monday, May 20th to grant Tenowo tax incentives based upon the county’s Industrial Incentive Grant Program. Upon the commissioner’s approval of the request, the County will provide $14,297.40 per year in grants for a five-year period after the completion of the project. The grant total is calculated to be $71,487.
German-owned, Tenowo USA is a manufacturer of nonwoven textiles for the automotive, industrial and appreal industry.
Chris Peart, President of Tenowo stated, “This incentive is just one of the ways that the partnership between Lincoln County, LEDA and Tenowo benefits our business and the community. We are extremely appreciative of this support and look forward to working together for many more years.”
Joe Lampron, board chair of Lincoln Economic Development Association offered his congratulations, “Tenowo has been a great asset to Lincoln County. LEDA is grateful they have decided to continue their success in Lincoln County and looking forward to working with them as they continue to grow.”
Mr. Carrol Mitchem, chairman of the Lincoln County Board of Commissioners added. “Tenowo is a great partner with Lincoln County and we look forward to supporting them as they continue to grow with our county.”