A large mixed-use development on the Wake-Chatham border is picking up steam as the developer recently bought dozens of acres for more than $11 million.

An LLC tied to Charlotte-based development group Beacon Partners acquired 83 acres in eastern Chatham County for $11.6 million last month, according to Chatham County deed records. That comes out to roughly $140,000 per acre.

The land will go toward Apex Gateway, a 375-acre commercial and industrial development at the western edge of Apex. Walker Gorham, who leads Beacon’s expansion efforts in the Triangle, said the land purchase is part of the project’s second phase, which will include roughly 243 acres.

Continue reading on the Triangle Business Journal website.

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Move over, Chatham Park: The next big mixed-use Chatham County community is well on its way.

Reeves Farm, a nearly 500-acre mixed-use development that will include more than 1,500 homes and a variety of restaurants, grocery stores, entertainment spots and trails, received rezoning approval from the Pittsboro Board of Commissioners in November, giving it the green light to make major progress in 2024.

Edward Holmes Jr., Carter Keller and Buddy Keller (Carter’s father), who are active developers in the Greater Triangle region, in December 2022 purchased 494 acres of what is currently a farm for nearly $19.6 million to be used for the project. The site is just west of Pittsboro and south of Highway 64 Business.

Continue reading on the Triangle Business Journal website.

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“When we invest in our rural communities, we uplift the state of North Carolina as a whole,” Governor Roy Cooper said. “These grants not only improve our state’s infrastructure, but offer rural residents a chance at greater economic opportunity, stability, and freedom through quality jobs.”

The RIA is supported by the rural economic development team at the North Carolina Department of Commerce. RIA members review and approve funding requests from local communities. Funding comes from a variety of specialized grant and loan programs offered and managed by N.C. Commerce’s Rural Economic Development Division, led by Assistant Secretary for Rural Development Kenny Flowers. Grants support a variety of activities, including infrastructure development, building renovation, expansion and demolition, and site improvements.

“Our rural infrastructure grants are tangible investments in the full potential of our state and its people,” said N.C. Commerce Secretary Machelle Baker Sanders. “Better public infrastructure welcomes more businesses and jobs to North Carolina, while inclusive economic development grows our economy and fosters an increased quality of life for our people.”

In Chatham County, A $100,000 grant will support the renovation of a 204,832-square-foot building in Goldston. The building is occupied by Conveyor Tech, LLC, a manufacturer of equipment in the electronics assembly industry, and one of two printed circuit board manufacturers in the United States. The company expects to create 20 jobs and invest $899,000 in this project.

The Industrial Development Fund – Utility Account program provides grants to local governments located in the 80 most economically distressed counties of the state, classified as Tier 1 or Tier 2. Funds may be used for publicly-owned infrastructure projects that are reasonably expected to result in new job creation. The IDF – Utility Account is funded through a process tied to the state’s signature Job Development Investment Grant (JDIG) program. When JDIG-awarded companies choose to locate or expand in a Tier 2 or Tier 3 county, a portion of that JDIG awarded is channeled into the Utility Account.

In addition to reviewing and approving funding requests, the N.C. Rural Infrastructure Authority formulates policies and priorities for grant and loan programs administered by N.C. Commerce’s Rural Economic Development team. Its 17 voting members are appointed by the Governor, Speaker of the House, and Senate President Pro Tem. The North Carolina Secretary of Commerce serves as a member of the authority, ex officio.

Visit the Rural Economic Development Division webpage for more information.

Read the full article on the NC Department of Commerce website.

The post Governor Cooper Announces Seven Grants to Rural Communities to Attract 130 New Jobs and over $53 Million in Private Investment appeared first on Chatham County Economic Development Corporation.

It’s an hour before her table will be swarmed by soon-to-be engineering graduates hungry to get in on the ground floor of largest economic investment in North Carolina’s long history, and Anna Gardner has recruited the help of a 6-foot, 3-inch-tall camel wearing a business suit to help her set up her blue VinFast display.

The camel, whose name is Gaylord, is the mascot for Campbell University, which on this brisk October morning is hosting more than 100 students from its School of Engineering for a career fair featuring 25 industries, from manufacturers like Caterpillar to biotech companies like Amgen, Jacobs and Pfizer.

Gardner’s appearance in Buies Creek is a good sign for North Carolina’s economy, as it’s visual assurance that the Vietnam-based electric car manufacturing company — which broke ground this summer on a massive facility in Moncure just 13 miles north of Sanford — is looking to begin the hiring process for the 7,500-plus jobs it has promised for the region. Those jobs, with an average wage of $51,000 a year, will include assembly workers, warehouse workers, operators, supervisors, technicians, office managers and other “higher ups.”

Continue reading on The Rant’s website.

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The Plan Moncure Small Area Plan has been a priority project of the Board of Commissioners and was initiated upon the announcement of the VinFast plant on the eastern side of the Triangle Innovation Point (TIP) site in March 2022. The County’s 2017 Comprehensive Plan, Plan Chatham, provides that a “small area plan” would be created upon the occupancy of the first major tenant at the TIP site.

Chatham County Planning Department staff and consultant firms White and Smith Planning and Law Group, Nealon Planning, and Green Heron Planning made up the Project Team. The Project Team consisted of community planners, transportation experts, water and sewer engineers, and a market analyst. This level of expertise was critical to the planning process to ensure that the County had subject matter experts on board to help build this plan to be effective and reflective of the community’s vision.

“We are confident that this carefully crafted plan positions us well to address the future of the Moncure community and ties into Chatham County’s larger picture for growth and development that is tempered by protection of our natural resources and environmental assets,” said Karen Howard, Chair, Chatham County Board of Commissioners. “Some of the options developed for the Moncure community are new and innovative approaches for Chatham that will allow for increased population density while maintaining a strong sense of place.”

Hearing from the community about their vision for the future of Moncure was a critical component to the creation of the Small Area Plan. Throughout the planning process, the Project Team reached out to stakeholders including residents, business owners, environmental groups, the development community, and faith and community leaders to receive their input. Through a variety of public engagement strategies, community members were invited to receive information and updates, participate in planning activities, discuss the project, ask questions, and provide feedback. Printed and electronic surveys were also disseminated throughout the community during the project. The Project Team used this direct input from the community to draft the plan to capture the community’s vision of the future of Moncure.

“We appreciate how the Project Team included all facets of the community to ensure their voices were heard throughout this entire process,” added Howard.

On August 9^th, the Project Team completed the draft plan. On August 23^rd and September 5^th, the Chatham County Planning Board reviewed the plan and recommended it for approval by the Chatham County Board of Commissioners with the Planning Board feedback provided for consideration of adjustments or changes, if desired.

On October 2^nd, the Chatham County Board of Commissioners held its first meeting to consider the plan. The meeting included a presentation by the consultants, opportunities for public input, and Board discussion. Following its discussion, the Board decided to carry over its consideration of the plan to its next meeting on October 16^th.

The Small Area Plan will now be published on the project website and a physical copy will be made available at the County libraries. The plan will be implemented over the next 20 years and will be a tremendous resource for the County decision makers and policy makers to make informed decisions regarding future development and infrastructure planning.

The public can read more about the Plan Moncure Small Area Plan at https://www.recodechathamnc.org/planmoncure.

The post Chatham County Adopts Plan Moncure Small Area Plan appeared first on Chatham County Economic Development Corporation.

PITTSBORO — Multibillion-dollar manufacturing projects headline the bright future ahead for economic development in Chatham County, but local officials are also focused on the necessary next steps, including infrastructural upgrades, sufficient labor supply and attracting supporting businesses. 

Electric car manufacturer VinFast and semiconductor producer Wolfspeed both recently broke ground on manufacturing plants in Chatham County costing a combined $9 billion. 

There are approximately 1,800 acres still available for use in the areas adjacent to VinFast and Wolfspeed, according to Chatham County Economic Development Corporation President Michael Smith. He expressed that filling those empty acres with businesses to support Wolfspeed and VinFast is a priority for the Chatham County EDC.  

The Chatham County EDC is in communications with several companies interested in occupying some of those empty acres, with most of the companies being related to the electric vehicle and semiconductor market, according to Smith.  

Continue reading on the Chatham News + Record website.

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MONCURE – VinFast, a Vietnamese electric vehicle manufacturer, broke ground on their proposed billion dollar facility in Chatham County Friday, July 28.  

In an event attended by VinFast executives, the Vietnam Ambassador to the United States, Gov. Roy Cooper as well as various government officials, VinFast laid out their future plans and goals regarding the factory located in the Triangle Innovation Point megasite.  

“Just over a year ago, Vinfast announced the plan to build our first North American manufacturing facility and today we are here to start the construction of the first EV factory in North Carolina which will have an annual production capacity of 150,000 vehicles,” said VinFast Global CEO Le Thi Thu Thuy.  

The plant, which will be the first ever automobile factory in the state of North Carolina, aims to create thousands of jobs and is just the latest example of the economic and business boom the state has been experiencing.  

“I’m so happy to be here because I’m thinking about the great paying jobs that are going to be created right here in North Carolina,” Cooper said. “They’re going to put money in the pockets of working families and that’s a great thing.”  

Continue reading on the Chatham News + Record website.

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RSVP for Supplier Day here.

The post Wolfspeed to host Supplier Day August 29th, 2023 appeared first on Chatham County Economic Development Corporation.

VinFast has submitted its site plan for the huge electric vehicle assembly plant complex in plans to build in Chatham County – and it’s huge.

In addition to the plan and details for buildings that are part of the site VinFast also provided a rendering of what the main building will look like.

The Vietnam-based manufacturer proposes that the factory complex will cover 2.8 million square feet near Moncure at the advanced manufacturing site called Triangle Innovation Point. That compares to the 1 million square feet-plus size of Durham-based Wolfspeed’s new semiconductor plant that also is being built in the county.

Continue reading on WRAL TechWire’s website.

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North Carolina is No. 9 among the 50 states when it comes to population but its economy ranks No. 7, according to a study published early Monday.

According to financial news and information site WalletHub, the Tar Heel state ranks ninth or better in three of the study’s seven categories and fourth overall for economic health.

Best performance: No. 3 in government surplus and deficit per capita. North Carolina’s budget is in the black

The state ranks sixth in gross domestic product change.

And its tech sector ranks ninth even though hiring has slowed drastically in recent months, according to the N.C. Technology Association.

The state’s entrepreneurial sector, which continues to produce record numbers of new businesses according to data from the state treasurer’s office, came in at No. 17.

The ranking is the same as in a 2022 WalletHub study.

In 2021, WalletHub ranked North Carolina No. 11.

Continue reading on the WRAL TechWire website.

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