North Carolina's Southeast approves 23 product development grant awards
Funds Will Leverage $28 Million in Investment, Boosting Region’s Industrial Site and Building Inventory.
Elizabethtown, N.C. - North Carolina’s Southeast has approved 23 applications from its Product Development Fund. The funds, which will boost the development and enhancement of industrial sites and shell buildings across the Southeast’s 18 counties, stem from a $5 million appropriation last year from the North Carolina General Assembly. Support will cover a wide array of engineering, water and wastewater infrastructure, design work, construction, roadway access and other needs.
“Our region and our organization are moving forward aggressively in applying these funds to meet demand by businesses for industry-ready real estate product,” says Jeff Etheridge, chairman of North Carolina’s Southeast. “Companies reconsidering supplychains in the wake of the pandemic and geopolitical concerns are seeking resilient, convenient and reliable destinations for manufacturing, logistics and other missioncritical operations. The Southeast wants to be ready for them. We are very grateful to legislative leaders for their leadership in making this program possible.”
State Representative William Brisson called the awards “great news for the rural communities in our district. I am excited about the economic opportunities that these grants will bring to our small towns as we stay current with the growing needs of eastern North Carolina,” Brisson said. “Thank you, N.C.’s Southeast.”
“This is great news for citizens and businesses in eastern and southeastern North Carolina,” said state Representative John Bell. “These funds will help support much needed infrastructure and economic development projects in these communities. I am grateful for our partnership with North Carolina’s Southeast to support economic growth and investment in the region.”
“The industrial sites in Southeastern North Carolina are primed for growth,” said state Senator Brent Jackson. “Through private and public sector collaboration, the economic development needs of 23 projects, including the Joe Britt Warren Business and Industrial Park in Sampson County and the Duplin Airpark, will be met.”
“Enhancing and building up our inventory of viable sites and buildings is one of our highest regional priorities right now, and we’re collaborating with our county economic development partners to make sure these funds are applied in the most impactful way possible,” explains Steve Yost, President of NC’s Southeast.
The $5 million appropriated from the North Carolina General Assembly will position the Southeast Region competitively as re-shoring and other global trends drive business investment.
“These grants support many exciting projects in our state’s southeastern counties and will help this region stay current with its economic development site and building needs,” state Senator Bill Rabon said. “I look forward to seeing the positive growth that will follow these investments.”
The following projects will receive support from North Carolina’s Southeast Product Development Fund:
Lenoir County Pad Ready Site Hwy 70 West Industrial Park (NC Global TransPark Economic Development Region) – The $262,000 grant supports a $3.28 million initiative to help prepare a 5.3 acres site for a new shell building at the Highway 70 West Industrial Park. The Golden LEAF, Lenoir County and the NC Electric Membership Corporation also are investing in the project.
A public-private regional economic development organization based in Elizabethtown, N.C., North Carolina’s Southeast provides economic development leadership in southeastern North Carolina through innovative marketing and collaborative regional initiatives that will support the creation of new jobs, generate capital investment and secure new business locations.” Member counties include Anson, Bladen, Brunswick, Columbus, Craven, Cumberland, Duplin, Hoke, Lenoir, Montgomery, Moore, New Hanover, Onslow, Pender, Robeson, Sampson, Scotland and Wayne. For additional information, visit www.ncse.org
