North Carolina Economic Development Guide

2013

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used for the distribution center. Pending regulatory permits, 500,000 square feet will be added, with manufacturing planned for the second phase. ���It���s kind of a moving target, but with the right business environment and right business conditions, this could grow into a very large plant.��� With plans to invest $80 million in land, buildings, machinery and equipment, ���we expect to be unproftable for the frst four years, until we can get up to speed. This is a very expensive undertaking and a huge risk.��� Financial incentives help offset the cost of such a large venture. A $1 million Community Development Block Grant of state and federal funds will pay to run sewer lines to the complex, and the N.C. Rural Center earmarked $750,100 in state and federal money to decommission and remove the existing waste-treatment plant, which required a $37,505 match from the county. State offcials said the second phase of the project, which could add an additional 550 jobs, would be eligible for up to $3.2 million over 10 years from the Job Development Investment Grant fund for worker training, as well as $825,000 from the One North Carolina Fund, a discretionary grant program that assists new and expanding companies if job creation and investment benchmarks are met. State Rep. Julia Howard, a Republican from Davie County, persuaded the General Assembly to provide a $168,013 tax credit over three years for the project. The incentives package also includes $2.5 million from Golden LEAF, the Rocky Mount-based nonproft that distributes half of the state���s share of the national tobacco settlement, to the county for equipment Ashley needs to store furniture. The company will lease the equipment from, and eventually reimburse, the county. Since Golden LEAF���s goal is to move the state economy from its reliance on tobacco, ���With the right business conditions and environment, this could grow into a very large plant.��� Changing lives and supporting eConomiC development through eduCation ��� Serving the citizens of Cumberland County and Fayetteville for the past ffty years with high-quality education and convenient study options. ��� Offering over 150 affordable programs of study leading to the award of associate degrees, certifcates or diplomas. ��� Customized employee skills training to meet site-specifc expansion and relocation needs: http://tinyurl.com/clleacs ��� Three convenient locations: the Fort Bragg Soldier Development Center, the Spring Lake campus and the Fayetteville campus ��� plus online, anytime! ��� A military friendly school (2013 Guide to Military Friendly Schools). www.faytechcc.edu

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