Tag Archive for: #hendersonvanceindustrialpark

TownTalk: Dan Brummitt On Economic Development 101

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Economic development often is the engine that spurs communities forward as it provides new job opportunities and contributes to the tax base. Sometimes, though, a community needs to have a little “skin in the game” to attract new businesses.

On the campus of the Henderson-Vance Industrial Park is one such example of the kind of investment that prospective industries are looking for – a shell building. There was an offer on the table almost as soon as it was finished. Unfortunately, that deal fell through at the last minute.

But Dan Brummitt, president of the HVIP board, announced on Wednesday’s TownTalk that there’s a new contract on the table. It’s just the sort of activity that local leaders are hoping for as the city and county continue to work together.

“There’s been a lot of activity on that building, and in the industrial park,” Brummitt said, adding that he sees more opportunities for growth in that area. If all goes according to plan, the new owner – yet unnamed – will close in the next few months.

It takes a strong city-county collaboration and partnerships among other agencies to attract and grow business and industry.

Brummitt said he would like to see more private investors stepping in to have a positive impact on growth. “There are people out there that want to be a part of growth in Vance County,” he said.

A private entity can raise enough money to do a job, Brummitt said, but the city and the county have to be involved when the talk is about making sure the infrastructure is in place.

“If the city and county are not involved, that would somewhat limit it,” he said of economic development.

There are a variety of community partners that help to create a strong network of cooperation, and one of those partners is the Economic Development Commission.

Its original iteration goes back to the 1970’s and in the early ‘80’s, it became an official city-county joint effort, Brummitt said, with the county handling the land part and the city bringing in the water/sewer component.

At that time, the role of director was a 50-50 funding split. In 2009, however, Brummitt said the EDC was “rebooted” and that funding split changed to a 75-25 split, with the county taking the larger responsibility.

As of 2011, the county agreed to fund 100 percent of the position. The city appoints three members to the board and the county appoints six members.

The EDC, with its director leading the efforts, is focused on business retention and expansion, Brummitt said.

Current EDC Director McKinley Perkinson announced her resignation recently and Brummitt said County Manager C. Renee Perry has the job of finding Perkinson’s successor.

That being said, the EDC director works with the 9-member EDC board, but generally reports to the county manager.

Brummitt said the EDC director also “obviously would work with the board” on any projects as well as keeping the EDC board updated on potential new businesses coming to the area. A lot of the job involves recruitment of new business, but the EDC director also needs to know the county’s assets.

Having a good working relationship with a cross-section of business and local leaders, as well as the boards is key to working together to accomplish the common goal that is economic development, Brummitt said.

Plus, “that makes for a healthy EDC,” he added.

“I think we’re in a really positive place,” Brummitt said. As the county continues its search for a new EDC director, he said “there’s a whole lot of activity in Vance County right now.”

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TownTalk: County Shell Building Deal Falls Through

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An optimistic person may look at the completed – and unoccupied – shell building at the Henderson-Vance Industrial Park and say “if you build it, they will come.”

The pessimist may say “don’t count your chickens before they hatch.”

Well, the shell building was built and a buyer in hand, until the 11th hour when the deal fell through.

That’s when Henderson-Vance Industrial Park, Inc. President Dan Brummitt summed up the process like a realist: “That’s real estate.”

Brummitt told WIZS News Tuesday that the deal that had seemed sewn up had, in fact, died.

The unnamed buyer had requested a 7-day extension right before the deal was to close, and then another 30-day extension after that. On the last day of the last extension, and right before the due diligence period was set to expire, the buyer backed out.

County Attorney Jonathan Care told WIZS News in an email that both sides had been in negotiations during the extension periods, but “the buyer’s agent told us in the final hour of the last day of the extension period for due diligence that the buyer would not be
proceeding forward, and (is) terminating the contract.”

The building is owned by the Henderson-Vance Industrial Park, Inc. – not by the city or the county, Care said.

“This is what we did not want to happen, as the building has been off the market now for several months, interest has continued to accrue on the construction loan, and the Industrial Park is back at square one with getting the building sold.”

Brummitt said that interest in the building is good and so it’s on to the next purchaser.

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Officials Break Ground For Shell Building At H-V Industrial Park

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Local and state officials were on hand for a groundbreaking ceremony at the Henderson-Vance Industrial Park Thursday to officially begin construction of a shell building on that campus.

“It’s a great day to see some dirt moving,” said Vance County Manager Jordan McMillen to the small group assembled on the chilly, blustery afternoon.

“This project is really about partnerships,” McMillen continued. From the city’s water and sewer extension and the nonprofit industrial park board that oversees the property to the county that is paying the bills and financing the project, McMillen said it would not be possible to build and grow without this multi-agency collaboration.

“This is a day we have anticipated for some time,” said Vance County Board of Commissioners Chair Leo Kelly. Having a shell building ready to be finished out by incoming industry puts Vance County in strong competition with other counties as companies look to locate or relocate their operations.

State legislators Lisa Barnes and Frank Sossamon, each coming off wins in the Nov. 8 midterm elections, were on hand for the ceremony. County Commissioner Tommy Hester credited Barnes for helping Vance County secure the funding for the shell building, but also for her role in getting $5 million for water projects in Henderson.

Hester also is president of the industrial park board. “Lisa stepped up and said ‘What can I do to help Vance County,’” Hester said, adding that whenever anyone asks that question, he is not shy to answer.

He said there could be a building on the site as early as January. “If you build it, they will come,” Hester told the group.

H-V Industrial Park Phase III

Vance Commissioners Pave The Way For Construction Of Shell Building At Industrial Park

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In a special called meeting Monday, the Vance County Board of Commissioners moved closer to fulfilling the concept of construction of a shell building on the campus of the industrial park.

The board approved a resolution to sell a 7.15-acre parcel to the Henderson-Vance Industrial Park, Inc. for $185,900, on which a 50,000-square foot shell building will be constructed, according to agenda information, which was confirmed Tuesday by County Manager Jordan McMillen.

Jordan told WIZS News Tuesday that all was approved as proposed.

In related business, the board also approved a construction loan agreement, two future advance deeds of trust and two promissory notes which total almost $3 million to complete the engineering, construction and maintenance of the shell building.

One loan for $500,000 at 0 percent interest because it is tied to funds from the state budget appropriations, according to information previously presented to the board. An additional $2.4 million loan is provided at 4.5 percent interest with interest beginning at such time that draws are made. This loan is for engineering, construction and maintenance of the building, which the county wants to have ready for prospective business and industry looking to locate in the area.

According to the loan documents, the building is to be completed within 18 months and provides two years – until Oct. 1, 2024  – for all principal and interest to be due and payable back to the county. The loan agreement includes separate promissory notes and deeds of trust for each of the loans. Funding for the project comes from the county’s economic development fund.

County leaders have been working on this concept for some time, with the idea that the county would be able to show prospective business and industry the local commitment to boost economic development.

H-V Industrial Park Gets $761,040 Grant From U.S. Dept. Of Commerce For Infrastructure Improvements

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Vance County has been awarded more than $760,000 from the U.S. Department of Commerce’s Economic Development Administration to support business growth in the Henderson-Vance Industrial Park.

The announcement was made today (Tuesday, Mar. 8) by the U.S. Department of Commerce. The EDA grant totals $761,040 and will promote job creation through roadway and sewer upgrades necessary for business expansion, according to a press statement. The grant will be matched with $190,260 in state investment and is expected to create 50 jobs and generate $3.2 million in private investment.

“This infrastructure grant is a big win for Vance County and the continued growth of the Henderson-Vance Industrial Park,” said U.S. Sen Thom Tillis. “I was proud to advocate for this award on their behalf, and I want to thank Vance County Commissioner Tommy Hester and Kerr-Tar Regional Council of Governments Executive Director Diane Cox for their partnership as we worked together to create more jobs in rural North Carolina.”

Congressman G.K. Butterfield, who represents Vance County, said the money will benefit the five counties the Kerr-Tar COG represents. “I am very pleased with the Economic Development Administration’s decision to invest in Vance County,” he said. “This grant award is well deserved and will provide needed funding for infrastructure improvements that will support business and job growth at the Henderson-Vance Industrial Park,” he added.

Included in the press statement were remarks by N.C. Gov. Roy Cooper. “We can build a stronger future for all by making smart investments in roads, water systems and other infrastructure,” Cooper said.  “Vance County is a great place to live, work and raise a family, and this grant will help make necessary improvements and create more jobs.”

H-V Industrial Park Phase III

Henderson-Vance Industrial Park Phase 3 Plans Continue to Move Forward

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Vance County Manager Jordan McMillen said the county has received an offer to purchase a tract of land in the Henderson-Vance Industrial Park. If approved, Phase 3 of the industrial park could be one step closer to being implemented.

“The county has a competitive offer for purchasing land to continue the expansion of this industrial park,” McMillen said in a written statement to WIZS.

The offer of $275,000 is to purchase a two-acre tract which the county bought in 2018.

If the deal goes through, the potential buyer’s plans include construction of an office-type building that could be used for retail tenants or flex space.

The commissioners heard the offer to purchase at their February meeting and, providing no upset bids are received, the commissioners would consider approving the sale at the March 1 meeting, McMillen said.

The property is part of the industrial park, located at the corner of Bearpond Road and Commerce Drive.  The properties committee, which includes commissioners Dan Brummitt, Leo Kelly and Gordon Wilder was “directed to meet and review draft restrictive covenants for not only the 2 acre tract, but also for the 82.5 acre tract that the county owns as well,” McMillen said.

Phases 1 and 2 of the industrial park have restrictive covenants in place from 1995, he added, and said the plan is to put similar covenants in place for Phase 3.

The properties committee met this week.

Vance County Logo

Vance Co. Announces Development of 85 Acres at Henderson-Vance Industrial Park

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-Press Release, County of Vance

Vance County is pleased to announce that the North Carolina Department of Commerce has approved and the county has received a $2.45 million grant from the Rural ReadySites program for development of phase III of the Henderson-Vance Industrial Park. The NC Rural ReadySites grant program helps local communities prepare potential industrial sites for development and provided a total of $14.3 million to a total of 10 North Carolina localities. Vance County’s successful grant will cover development costs to include construction of a new roadway and extension of water and sewer infrastructure through the site. The Kerr-Tar Council of Governments was instrumental in preparing and submitting the grant application.

Vance County Board of Commissioner Chairman and Henderson-Vance Economic Development Chairman Tommy Hester recognized this as a huge step forward for the county. “Receiving this grant puts Henderson and Vance County ahead of our neighbors and puts us in a position where we will have more available assets to attract businesses, industries and jobs. If you look at where economic development is coming from and expanding, it’s obvious with the companies that have expanded recently in the Henderson-Vance Industrial Park. This grant will allow for the necessary infrastructure to be put in place, and unlike surrounding areas, this park has access to rail and natural gas, is adjacent to US 1, is within five miles of I-85 and 25 miles from Wake County. Our number one priority is jobs and this grant moves us in that direction.”

The county entered a purchase contract in April for approximately 85 acres located at the intersection of US 1 and Bearpond Road directly adjacent to the existing Henderson-Vance Industrial Park. The county also has a program underway wherein it’ll make effective use of drone technology (you can learn more about them on Let’s Fly Wisely) to efficaciously attract home buyers. According to County Manager Jordan McMillen, the county has begun due diligence on the land and anticipates completing this in the next few weeks. At that point, the board of commissioners will determine whether to proceed forward with the purchase. The successful grant is a game changer for the area and positions the county not only to own and control a prime piece of real estate, but also to develop raw land to a shovel-ready status. The Henderson-Vance Industrial Park began in 1988 with the purchase of Phase 1 (150 acres) and since that time has been filled with nine businesses contributing approximately 600 jobs and a total value over $62 million. The park alone generates over $5.5 million in tax revenue to the county on an annual basis.

Henderson-Vance Economic Development Director, Dennis Jarvis, II characterized the grant as a big win for the community. “The grant award ensures Vance County is going to be competitive in the region, the state, and the Southeast for new investment and retention projects. We will have a shovel-ready world-class business facility and a new platform to market the community in the global playing field.”