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As part of a strategic plan to support a statewide Major Site Development Initiative (MSDI) announced in 2016, the Golden LEAF Foundation joined the state’s Rural Infrastructure Authority and Duke Energy in awarding approximately $35 million to seven industrial sites across the state. The collaborative initiative aims to place North Carolina facilities in a position to win projects over competitive states.
The $25 million in funding dedicated from the Golden LEAF Foundation Board was spread among seven industrial sites across the state to help support public infrastructure needs in rural, tobacco-dependent and economic distressed areas of the state, including the Kingsboro Industrial Park in Edgecombe County.
“Sites with infrastructure already in place are more competitive,” said Dan Gerlach, Golden LEAF president referring to the Foundation’s commitment to support economic development that has the potential for transformational impact to the state’s economy.
The investment is already bearing fruit. After a total of $8.6 million in grants for enhancements to water, sewer, a groundwater study and road improvements, the site was chosen by a major global automotive tire company – Chinese owned Triangle Tyre – announcing it will bring 800 high-paying jobs to the region along with a $580 million investment at the Kingsboro Megasite facility.
In addition to the Kingsboro investments, the Foundation allocated an additional $10 million in December 2017 to construct and equip a state-of-the-art Advanced Manufacturing Training Center at Edgecombe Community College to support worker training for the new tire plant and other companies investing in the region.
The $25 million in funding dedicated from the Golden LEAF Foundation Board was spread among seven industrial sites across the state to help support public infrastructure needs in rural, tobacco-dependent and economic distressed areas
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