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Local Government
Johnston County Sells Voter Approved Bonds PDF Print E-mail
Local Government
By Administrator   
Friday, 12 July 2019 08:21
Johnston County sold $20 million of general obligation bonds from the $76 million November 2018 voter-approved education referendums.  The low bidder was Bank of America Merrill Lynch at a fixed 20 year “all-in” rate of 2.46%.  There were 11 bidders.
 
According to County Manager, Rick Hester, “The County’s strong credit ratings and several other factors played into this successful sale.  Those factors include, but are not limited to, financial policies the Board of Commissioners put in place, the impressive job the County’s finance team does, and a vibrant local economy.  Plus, it didn’t hurt that interest rates have recently dropped some.”
 
Brandon Named To District Court PDF Print E-mail
Local Government
By Administrator   
Wednesday, 10 July 2019 10:54

Governor Roy Cooper has appointed Erica Standfield Brandon as District Court Judge to Judicial District 17A, serving Rockingham and Caswell counties. She will fill the vacancy created by the retirement of the Honorable Michael Gentry.

“Erica brings broad legal experience and a history of community engagement to the bench, and I am grateful for her commitment to public service in North Carolina,” said Gov. Cooper.

´╗┐Erica Standfield Brandon, of Milton, NC, has worked as a prosecutor in the Rockingham County District Attorney's Office for nearly a decade. Brandon is actively involved in the Rockingham County community and chairs numerous local organizations. She received her Bachelor of Arts from University of North Carolina at Greensboro and her Juris Doctor Degree from North Carolina Central University School of Law.

 

Last Updated on Wednesday, 10 July 2019 10:55
 
Lowes Will Locate Global Technology Center In Charlotte PDF Print E-mail
Local Government
By Administrator   
Monday, 08 July 2019 13:54

Mooresville-based home improvement company Lowe’s will locate a major new technology center in Charlotte, creating more than 1,600 jobs.

“Lowe’ is expanding in a way that will take technology to new heights and this company knows its home state can provide the highly trained workforce it needs,” Gov. Roy Cooper said. “We are committed to ensuring workers have the right skills to encourage companies to grow their footprint in our state with confidence.”

Lowe’s serves more than 18 million customers a week in the United States and Canada across more than 2,200 home improvement and hardware stores. Associates at the new center will help accelerate the company’s technology transformation, serving as an epicenter for the team that will help modernize technology systems for the company. The company announced in December 2018 it would add up to 2,000 technology associates to transform the company’s technology. Most of the new positions will be based at the new center in Charlotte, while others will join at existing Lowe’s locations where it has a strong technology team presence, including its Mooresville headquarters.

“We’re excited to stand up our new global technology center here in North Carolina to continue to drive our company’s growth,” said Marvin R. Ellison, Lowe’s president and CEO, who joined the company in July 2018. “Locating our new facility in the heart of Charlotte, the state’s largest metropolitan area, will enable Lowe’s to attract top technology talent and foster collaboration with our teams in our nearby Mooresville headquarters. This team will create technology solutions that will accelerate our commitment to becoming a best-in-class, omni-channel retailer and strengthen our associate and customer experiences.”

In conjunction with selecting North Carolina, Ellison announced Lowe’s intention to locate its new global technology center in Charlotte’s South End. Set to open in late 2021, a 357,000-square-foot facility will be located in a new 23-story tower, branded with Lowe’s, in the bustling neighborhood immediately south of uptown Charlotte. The developer, a joint venture between Childress Klein and RAM Realty Advisors, plans to break ground on the building, called Design Center Tower, in August 2019.

Adjacent to the Lynx Blue Line light rail, the Rail Trail, restaurants and available parking and housing, the new building will provide attractive amenities for the area’s top tech professionals. The Charlotte Plaza in uptown Charlotte will serve as the interim home for the Lowe’s tech center.

“For nearly 75 years, Lowe’s roots in North Carolina have run deep, growing from one small hardware store into a Fortune 50 home improvement retailer,” said North Carolina Commerce Secretary Anthony M. Copeland. “Their story exemplifies North Carolina’s strengths as a business location and demonstrates how our state provides everything a company might need, no matter the stage of growth or level of skill sought.”

Today, Lowe’s employs nearly 11,000 associates in the Charlotte area and more than 28,000 associates across North Carolina.

The North Carolina Department of Commerce and the Economic Development Partnership of N.C. (EDPNC) led the state’s support for the company’s expansion.

In addition to its $153 million capital investment in the project, Lowe’s will add a variety of technology positions, including software and infrastructure engineers, data scientists, analysts, architects, User Experience (UX) and User Interface (UI) professionals, and technologists with Artificial Intelligence and machine learning engineering experience.

Lowe’s expects to fill the first 400 positions in the next year and plans to begin hiring for these positions immediately. Candidates can visit jobs.lowes.com/technology to learn about available positions and apply online. While salaries will vary by role, the average wage for the new positions will be more than $117,000.

Lowe’s technology center expansion in Mecklenburg County will be facilitated, in part, by a Job Development Investment Grant (JDIG) and a grant from the One North Carolina Fund.

The JDIG was approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project will grow the state’s economy by an estimated $6.3 billion. Using a formula that takes into account the new tax revenues generated by the 1,612 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $54,090,750, paid over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

Because Lowe’s chose to expand in Mecklenburg County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving as much as $18 million into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Mecklenburg, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state. M

A performance-based grant of $2 million from the One North Carolina Fund will also support the project. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Like with the state’s JDIG grants, companies receiving OneNC grants must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and the state award is contingent upon that condition being met.

North Carolina Department of Commerce and the EDPNC counted the following groups among their partners in this project: the North Carolina Community College System, Duke Energy, Mecklenburg County, the City of Charlotte, Charlotte Regional Business Alliance, Davidson College, Duke University, East Carolina University, Johnson C. Smith University, North Carolina A&T State University, North Carolina State University, the University of North Carolina at Chapel Hill, the University of North Carolina at Charlotte, Central Piedmont Community College, Charlotte Mecklenburg Schools, Carolinas Fintech Hub, Road to Hire, Tech Talent South, and Charlotte Works.

 

Last Updated on Monday, 08 July 2019 13:55
 
Rural Infrastructure Authority Awards $10.8 Million In Grants PDF Print E-mail
Local Government
By Administrator   
Monday, 08 July 2019 13:06

Governor Cooper announced today that the North Carolina Rural Infrastructure Authority (RIA) approved 21 grant requests to local governments totaling $10,790,000. The requests include commitments to create a total of 1,314 jobs, 515 which have previously been announced. The public investment in these projects will attract more than $123.7 million in private investment. 

“By making strategic investments in rural infrastructure, North Carolina is better positioned for economic growth,” Governor Cooper said. “Rural Infrastructure Authority grants are the seed to grow good jobs and improve all areas of our state’s economy.”

The North Carolina Department of Commerce’s team of economic development professionals supports the RIA’s work. 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. Grants can support a variety of activities, including infrastructure development, building renovation, expansion and demolition, and site improvements.

“With the projects approved today, rural North Carolina can attract hundreds of new jobs, support business expansion and build healthier communities,” said NC Commerce Secretary Anthony Copeland. “The Rural Economic Development Division at Commerce and the Rural Infrastructure Authority are pleased to be able to partner with local leaders to help our rural areas succeed.”

The RIA approved 16 grants under the state’s Building Reuse Program in three categories:

Vacant Building Category

*     Burke County: A $500,000 grant will support the reuse of a 206,522-square-foot building in Hildebran. SynergyLabs, a developer and manufacturer of pet and veterinary products, plans to move its manufacturing operations from Florida to this location. This project is expected to create 42 jobs and represents an investment of $12,241,700 by the company. 

*     Cleveland County: A $500,000 grant will support the renovation of a 140,000-square-foot building in Shelby. Greenheck Group, a supplier of air movement, control and conditioning equipment for commercial, institutional and industrial buildings, is locating its operations in the facility. While a total of 403 new jobs are expected to be created by the company with an investment of $58.8 million, 86 of those jobs and an investment of $832,100 are tied to this grant. 

*     Harnett County: A $500,000 grant will support the reuse of a 59,314-square-foot building in Lillington, which will be occupied by KriGen Pharmaceuticals. The company will manufacture medical IV bags and liquid injectables at the facility. This grant will facilitate the creation of 64 jobs (out of a total of 100 jobs set to be created) and an investment of $8,017,417 by the company.

*     City of Sanford (Lee County): An $85,000 grant will support the reuse of a 145,636-square-foot building. Triad Corrugated Metal, which provides metal roofing, building systems and accessories to commercial, residential and agricultural customers, will locate in the facility. The project is expected to create 17 jobs and attract $629,000 in private investment.

*     City of Jacksonville (Onslow County): A $350,000 grant will support the reuse of a 20,389-square-foot building, which will be occupied by The Results Companies (TRC), a call center operation that provides inbound/outbound and back office support. The company expects to create 325 jobs and invest $311,215 in this project.

*     Pasquotank County: A $400,000 grant will support the reuse of a 25,000-square-foot building in Elizabeth City. Telephonics Corporation, a designer and manufacturer of aerospace radar and communications systems for aerospace, defense and commercial customers, will occupy the facility, creating an expected 50 jobs and investing $1,639,263. 

*     City of Archdale (Randolph County): A $125,000 grant will support the reuse of a 5,782-square-foot building. Hubbell Industrial Controls, an international manufacturer of electrical/electronic products for construction, industrial and utility applications, plans to expand upon its current Archdale operations nearby by locating in this additional facility. The project is expected to create 14 jobs and attract $130,537 in investment by the company.

*     Rockingham County: A $500,000 grant will support the reuse of a 160,100-square-foot building in Reidsville. Pella Corporation, a manufacturer of window and door products for residential and commercial use, will locate in the facility, creating 124 jobs and investing nearly $20 million. Of those totals, 95 jobs and $2,050,000 in investment are tied to this grant.

*     Rutherford County: A $500,000 grant will support the reuse of a 127,312-square-foot building in Spindale, which will be occupied by Cardinal Tissue. The company, which produces a selection of napkin products, is expected to create 40 jobs and invest $8,506,584 in this project.

*     Rutherford County: A $225,000 grant will support the reuse of a 66,000-square-foot building in Forest City, which will be occupied by SSD Designs, a plastic recycling company. This project is expected to create 18 jobs and represents an investment of $375,561 by the company.

Existing Building Category

*     Granville County: A $500,000 grant will support the renovation of a 112,000-square-foot building in Creedmoor occupied by Altec Industries. The company provides products and services to the electric utility, telecommunications, tree care, lights and signs and contractor markets. Its products include aerial devices, digger derricks, truck bodies and related equipment. The company plans to create 72 jobs and invest $8,245,000 in this project.

*     Montgomery County: A $500,000 grant will support the renovation of a 120,000-square-foot building in Troy occupied by AmeriQual Aseptic, a food processing company that specializes in the development, processing, packaging and distribution of shelf-stable foods. The project is expected to create 76 jobs with an investment of $23,315,327 by the company, as it adds a new product line.

 

 

 

 

Rural Health Category

 

*     Camden County: A $50,000 grant will support the reuse of a 2,600-square-foot building in Camden, where Chesapeake Regional Medical Center plans to open a facility that will provide primary care services and lab services. The project is expected to create 5 jobs and attract $313,271 in private investment.

*     Town of Scotland Neck (Halifax County): An $80,000 grant will support the renovation of a 217,800-square-foot building occupied by Our Community Hospital/Bryan Health & Rehabilitation Center. The 80-bed skilled nursing facility provides 24-hour nursing care. This renovation project is expected to add 8 jobs and attract $302,150 in private investment.

*     Rutherford County: A $270,000 grant will support the new construction of a 27,900-square-foot facility in Lake Lure by Affinity Living Group, an assisted living provider offering Alzheimer's and memory care and senior housing throughout the southeastern United States. The company expects to create 27 jobs and invest $10,956,607 in the project.

*     Scotland County: A $125,000 grant will support the reuse of a 4,500-square-foot building in Laurinburg. Carolina Hearts Home Care, which provides in-home aide services to Scotland County and surrounding counties, plans to locate in the facility, while creating 15 jobs and investing $175,500.

The Building Reuse Program provides grants to local governments to renovate vacant buildings, renovate and/or expand buildings occupied by existing North Carolina companies, and renovate, expand or construct health care facilities that will lead to the creation of new jobs in Tier 1 and Tier 2 counties and in rural census tracts of Tier 3 counties.

 

The RIA approved four requests under the state’s federally-funded Community Development Block Grant (CDBG) - Economic Development program:

*     Halifax County: A $750,000 grant will support major renovations to an existing industrial building in Weldon, to include construction of a mechanical tower, electrical improvements, construction of company offices, and mechanical and plumbing improvements. JBB Packaging, LLC, a plastic packaging manufacturer, plans to create 50 jobs at the facility, while investing $11,900,000 in the project.

*     Town of Four Oaks (Johnston County): A $1 million grant will support the extension of public water and sewer infrastructure to an industrial site to meet sewer and fire protection needs for Broad River Retail, LLC, an Ashley HomeStore licensee. The company will locate a distribution center, retail store and corporate learning center at the site. The project is set to result in the initial construction of a 182,300-square-foot facility, the creation of 102 jobs and an investment of $16 million by the company. Overall, the new location is projected to create 161 jobs.

*     Town of North Wilkesboro (Wilkes County): A $580,000 grant will support the construction of a 500,000-gallon water tank for increased water supply and fire suppression at the North Wilkesboro location of Jeld-Wen, Inc., a manufacturer of specialty doors. The company is expected to create 29 jobs and invest $8 million in this project.

*     City of Wilson (Wilson County): A $750,000 grant will support major interior improvements and renovations to an industrial building that will be occupied by CleanAire, LLC, an air filtration manufacturing company that will service retail, wholesale, commercial and industrial markets. The company plans to create 305 jobs and invest $10 million at the site, with 179 of those jobs and $9,851,500 worth of investment tied to this grant.

The Community Development Block Grant program is a U.S. Department of Housing and Urban Development (HUD) program administered in part by N.C. Commerce. CDBG’s economic development funds provide grants to local governments for creating and retaining jobs. Project funding is based on the number of jobs to be created and the level of economic distress of applicant communities.

 

The RIA approved one request under the state’s Industrial Development Fund - Utility Account program:

*     Town of Oakboro (Stanly County): A $2.5 million grant will help the Town extend water and sewer infrastructure to support a site for industrial development.

The Industrial Development Fund – Utility Account provides grants to local governments located in the 80 most economically distressed counties of the state, which are classified as either 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 award 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 16 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 non-voting member of the Authority.

 

Last Updated on Monday, 08 July 2019 13:08
 
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