Tax payer dollars could contribute to Live Oak Bank expansion pr - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

Tax payer dollars could contribute to Live Oak Bank expansion project

Live Oak Bank could be making a $16 million facility expansion, which will allow for them to employ an additional 120 employees over five years. (Source: City of Wilmington) Live Oak Bank could be making a $16 million facility expansion, which will allow for them to employ an additional 120 employees over five years. (Source: City of Wilmington)

WILMINGTON, NC (WECT) – Live Oak Bank could be making a $16 million facility expansion, which will allow for them to employ an additional 120 employees over five years.

According to a news release, the project is expected to be finished within the next two years. The Wilmington Development Corporation has been working with the firm on this expansion.

New Hanover County will be asked to make a partnership payment of $325,000 over the next five years and the City of Wilmington $250,000 over this same period.

The city and county will consider donating taxpayer dollars to the project at separate public hearings scheduled for September 16 and 17.

Copyright 2013 WECT. All rights reserved.

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