Richmond County Industrial Park
Daily Journal file photo
During a presentation given to the Rockingham Rotary Club on Monday, Oct. 25th, Economic Development Partnership of North Carolina Board Chair Gene McLaurin explained the role of the hybrid public/private organization in attracting and retaining business investment in the state and shared inroads the EDPNC has made towards that mission.
“North Carolina is ranked as the number one state for business in the country for the first time,” McLaurin said. “We’ve always been in the top five, top ten, “McLaurin noted, explaining CNBC’s rigorous annual assessment of over 100 criteria in determining its rankings.
The number one designation has increased interest for businesses looking at North Carolina for headquarters or expansion. There are now 270 projects in the economic development pipeline in the state.
McLaurin believes cooperation between the legislature and the governor’s office recognizing the win-win nature of economic development has contributed.
“There’s nothing partisan about it,” he explained.
By focusing on creating a favorable tax climate and reducing regulatory burdens, McLaurin told the group, “common ground was found to attract new business and industry.”
This cooperation has led to the successful recruitment of an auto assembly plant in Chatham County. VinFast, a Vietnamese electric vehicle manufacturer should start production next year. McLaurin noted that North Carolina has been trying to get an auto manufacturer for years, always losing out to neighboring states. Of the 270 potential future projects. 46 involve electric vehicle related components.
“The state has always marketed itself for tourism, and now it is also investing in business development marketing,” McLaurin said of the $10 million that has been allocated over the next three years to promote the business opportunity internationally.
The state is running out of mega sites, areas with 1,000 or more acres with adequate access to power, water, and transportation.
Martie Butler, Richmond County Economic Developer, shared that the city of Rockingham has 700 acres on Airport Road across from the Duke Energy site under option in preparation for the state’s search for new development locations and is looking for another 300 acres. Recently dubbed, “Energy Way,” the land has the power and water requirements for a mega site.
The city, county, and Department of Transportation are working together to ensure access as well.
“Everything is a partnership,” Butler said.