CYES Factory LLC, a manufacturer and distributor of tortilla chips and other related food products, has purchased a 4,400-square-foot facility in downtown Norwood.

CYES Factory, LLC expects to create at least 12 new jobs in Stanly County within the next 18 months and invest more than $400,000.

On Thursday, Gov. Roy Cooper and N.C. Department of Commerce Secretary Tony Copeland both announced the North Carolina Department of Commerce’s Rural Infrastructure Authority has authorized a funding commitment to the project of $250,000 to assist with job creation.

The town of Norwood will receive the $250,000 CDBG Economic Development grant.

The grant funds will be loaned to CYES Factory, LLC to assist in the renovations of a vacant building in downtown Norwood.

“We greatly appreciate the joint effort between the town of Norwood and Stanly County as well as the assistance and support from the Economic Development Partnership of NC, Hartigan Management and the NC Department of Commerce,” Norwood Mayor Harold Thompson said. “This private public partnership will create jobs, rehabilitate our largest structure downtown, and create additional foot traffic in our downtown business district. We are excited to support this project and look forward to the ribbon cutting.”

CYES Factory LLC, President Tedros Kebede added: “We are excited to move forward with this project. We look forward to a successful 2019, transforming downtown Norwood and creating jobs for the community.”

The Stanly County Economic Development Commission and Stanly County Board of Commissioners both extend gratitude to the Economic Development Partnership of NC for its guidance and assistance and the Department of Commerce for its financial support.

“We welcome CYES Factory, LLC to Stanly County and are excited to once again see businesses and entrepreneurs finding success in Stanly County.” said Rick Williams, chairman of the Stanly County Economic Development Commission.”