Significant Boost to North Carolina’s Rural Economy with Over $4 Million in Grants
North Carolina’s rural areas are poised for an economic uplift following the announcement by Governor Josh Stein that the state’s Rural Infrastructure Authority (RIA) has greenlit eight grant applications totaling $4,085,208. These funds are expected to pave the way for the creation of 396 jobs, 300 of which have already been disclosed, while attracting over $126.2 million in additional investments from both private and public sectors.
Governor Josh Stein emphasized the appeal of North Carolina’s smaller towns as attractive places for living and conducting business: “North Carolina’s small towns continue to attract investment because they are great places to live, raise a family, and do business. These grants contribute to our state’s positive momentum by making necessary infrastructure improvements that will bring good-paying jobs and help communities thrive.”
The RIA, collaborating with the North Carolina Department of Commerce’s rural economic development team, evaluates and sanctions funding requests from local governments. The funding is sourced from a range of specialized grant and loan programs managed by the Rural Economic Development Division, spearheaded by Assistant Secretary for Rural Development Reginald Speight. These grants cover infrastructure development, building renovation, expansions, demolitions, and site enhancements.
Infrastructure and Economic Development Programs
N.C. Commerce Secretary Lee Lilley remarked on the state’s focus on infrastructure: “North Carolina’s new strategic economic development plan, First in Opportunity, puts the need to modernize and fortify our infrastructure front and center. We are proud to partner with rural communities across the state by providing these tools to support infrastructure, whether that takes the form of water, downtown districts, health care access or industrial site improvements.”
Building Reuse Program
The RIA approved four grants under the Building Reuse Program, divided into two categories:
Vacant Building Category
- City of Lexington (Davidson County): A $250,000 grant facilitates the reuse of a 214,592-square-foot building, earmarked for Supreme Nonwoven Industries’ U.S. hub, promising 50 jobs, with 34 directly linked to this grant and an investment of $569,941.
- Gaston County: A $272,000 grant assists in repurposing a 550,000-square-foot building in McAdenville for Textum OPCO, LLC, an advanced textiles manufacturer, creating 34 jobs and involving a $23,074,802 investment.
- Rockingham County: A $400,000 grant supports the reuse of a 125,000-square-foot facility in Reidsville by Talalay Global, Inc., generating 52 jobs with a $725,000 investment.
Rural Health Category
- Town of Taylorsville (Alexander County): A $125,000 grant will repurpose a 3,100-square-foot building for VitalNow Urgent Care, creating 10 jobs with a $166,571 investment.
The Building Reuse Program supports local governments in renovating vacant buildings, expanding facilities for existing companies, and enhancing health care facilities in Tier 1 and Tier 2 counties.
Further Grant Initiatives
Community Development Block Grant – Economic Development
- City of Hendersonville (Henderson County): With a $1,862,000 grant, infrastructure improvements are planned for BorgWarner’s site, aiming for 378 new jobs and a $100 million investment. This includes a 20,000-linear-foot water main extension.
The Community Development Block Grant program, funded by HUD and administered by N.C. Commerce, offers grants based on jobs created and community needs.
Industrial Development Fund – Utility Account
- Caldwell County: A $709,508 grant supports sewer infrastructure at Foothills Regional Airport Industrial Park, fostering industrial development over 1,000 acres.
The Industrial Development Fund – Utility Account targets job creation in the state’s most distressed counties, funded through the Job Development Investment Grant program.
Rural Downtown Economic Development
Public Buildings Category
- Town of Badin (Stanly County): A $241,700 grant revitalizes a 109-year-old building into a community space, leveraging an additional $12,085 investment.
Public Infrastructure Category
- City of Asheboro (Randolph County): A $225,000 grant aids in North Street and Trade Street enhancements, leveraging $1,712,788 for streetscape improvements.
The Rural Downtown Economic Development Grants program supports downtown revitalization, aiming to bolster economic growth and community prosperity.
The N.C. Rural Infrastructure Authority, comprising 17 voting members appointed by the state leadership, oversees these initiatives, helping to shape policies and priorities for economic development in rural areas. More information can be found on the Rural Economic Development Division webpage.
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