Local News

Golden LEAF Provides Holly Springs Another $1.25M Grant For Novartis Project

Posted September 15, 2006

— The Town of Holly Springs will receive a $1.25 million grant from the

Golden LEAF Foundation

as part of the economic package to land a new Novartis vaccine production plant.

The Foundation awarded the grant at a meeting last week.

Holly Springs requested $6.1 million from Golden LEAF. The Foundation awarded the town a $800,000 grant in June to help provide infrastructure for the Novartis facility.

The request for additional funding came after the town "learned that some of the Novartis investment in the plant would not be taxable", Golden LEAF said. Novartis plans to spend more than $260 million on the facility, which was announced in July.

The additional funds were awarded contingent upon the town securing additional funds, the Foundation added.

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