Sparkync,
Because you stated that the building is being modified for wood-working, I would approach this VERY carefully, and make sure the AHJ is involved. This is probably a change of occupancy to a Hazardous classification.
The UBC (yes, I'm in Calif.)would class this as H-2, moderate explosion hazard or hazard from accelerated burning. The I-code treats it similarly.
NEC 500-8 classes it as Class III Div 1, AT LEAST!!!
