Economic incentives could yield new jobs
June 24, 2010
ASHEBORO — The economy isn’t roaring back to life but Randolph County commissioners took the opportunity Monday to prod some job development along with the approval of two economic incentive packages.
One was for a new project for an as yet to be identified company in Archdale that will bring in 46 workers from other areas and create 25 new local jobs.
The second was for the construction of a sewer line extension in Seagrove that will facilitate the creation of six jobs at a new grocery store and nine new jobs at the existing 4 Seasons Furniture company.
The combined input from the county will be $17,500 for both projects.
The incentive package in Archdale, called Project Darr after general contractor J.L. Darr & Sons LLC, will go to help renovate an existing building at 3803 Commache Road.
Bonnie Renfro, Randolph County Economic Development Corp. (EDC) president, said the N.C. Rural Center offers a building rescue grant that funds projects at $12,000 per new full-time job and can cover up to 50 percent of the cost of permanent renovations to a vacant industrial or commercial facility.
Plans call for the relocation of $1.7 million in existing equipment to the facility. The owners will also purchase $700,000-$800,000 in new equipment. Renfro estimated the new tax revenue that could be created annually for Archdale at $5,800 and for Randolph County at $11,720, not including real estate taxes.
The grant program calls for matching funds from both governments; $10,000 each from Archdale and Randolph County. An application for the grant has been made and is pending approval with the state agency.
Commissioners plan to hold a public hearing on the project at their regular meeting on Oct. 4.
The incentive package for Seagrove was approved unanimously at a public hearing during Monday’s commissioners’ meeting. The money for that project would also come from the N.C. Rural Center in the form of an economic infrastructure grant and would require a $7,500 match from the county and an equal amount from the Town of Seagrove.
Owners of the grocery store, Fresh Cuts Grocery, will invest $2 million to construct and equip an 11,492-square-foot retail store and will hire six full time employees. The expansion at 4 Seasons Furniture will create nine new full time jobs.
The grocery store will be on a 1.58-acre site at 137 N. Broad Street, which is located in the central business district, but is not served by sewer or water.
4 Seasons Furniture, which produces upholstered furniture and has 52 employees, is at 105 East Avenue and does not have sewer access. 4 Seasons Furniture is co-located with H & H Furniture and Chief Express, collectively the town’s largest employment center.
The water line to the grocery store would be an extension of a water line located 150 feet from the store. Sewer construction would include 900 linear feet of an eight-inch gravity sewer to a pump station and construction of an 800 foot four-inch line to connect to an existing force main line.
Renfro said the pump station would be located and sized to accommodate future customers from surrounding pottery galleries and studios, service companies and the N.C. Pottery Center.
At this time, sewer service is not available within the town for residents or businesses.
“This project has the potential to serve Seagrove’s largest employer, bring a new business to the community, create needed jobs and provide infrastructure to provide future access to key tourism businesses in the center of town,” Renfro said, “And, you get a grocery store to boot.”
Renfro estimated the town would see a return of $8,000 a year in property taxes and Randolph County would get $11,720.
Source: [readon1 url="http://www.courier-tribune.com/local_news/story/2010/06/24/edc_honors_industry_leaders_annual_meeting"] Source: Courier Tribune[/readon1]