North Carolina Governor Josh Stein has announced a new initiative aimed at bolstering economic development in the state's rural areas. According to the North Carolina Office of the Governor's official release, the Rural Infrastructure Authority (RIA) has greenlit 13 grant requests to local governments totaling $9.6 million. These grants are tied with commitments to create a combined total of 785 jobs, injecting over $165.9 million into local economies through both public and private investment.
"North Carolina’s success is rooted in our rural communities," Gov. Stein stated in the release. The funded projects are diverse in nature, ranging from infrastructure development to the renovation of old buildings for new purposes. For instance, a $275,000 grant will transform a vacant 22,000-square-foot building in Edenton into a technology talent development hub, bringing 61 new jobs to the area. While in Chadbourn, a 220,000-square-foot building is set to become home to Barrier Fencing Supply Company thanks to a $450,000 grant, expected to generate 91 jobs, as per the North Carolina Office of the Governor.
The Building Reuse Program is one of several funding approaches used to support these ventures. Specifically, this program provides grants for renovating vacant buildings, updating facilities occupied by existing North Carolina companies, and constructing health care facilities in order to create new employment opportunities in rural counties. Funding for the grants comes from a combination of specialized programs managed by N.C. Commerce's Rural Economic Development Division.
Further demonstrating the state's commitment to rural prosperity, the Community Development Block Grant – Economic Development program, a federally-funded initiative, has allotted a $750,000 grant to fit a 500,000-square-foot shell building in Mocksville for SBA Home, a Lithuanian company that will provide 250 jobs and invest $50.8 million. The grant aims to strengthen local economies by creating and retaining jobs, particularly in communities facing economic challenges.
Local governments in economically distressed regions also benefit from the Industrial Development Fund - Utility Account program. As part of this strategy, grants such as the $200,000 one for Town of Aurora and the $1,400,000 for Hoke County are being used to enhance infrastructure that directly connects to job creation. These projects range from developing industrial parks to expanding sewer infrastructure, each with the goal of making rural communities more competitive and resilient in the face of economic development opportunities. Commerce Secretary Lee Lilley underscored this by noting, "Our economic competitiveness is greatest when all of North Carolina benefits," according to the North Carolina Office of the Governor.
Moreover, the Rural Downtown Economic Development program is providing grants to catalyze revitalization efforts in historic downtown areas, such as the $850,000 awarded to the Town of Troy for its Main Street Revitalization and Connectivity Project. These grants recognize the importance of leveraging downtown districts to enhance overall economic growth and community well-being. The RIA, comprising 17 members appointed by various state leaders and including the N.C. Secretary of Commerce ex officio, not only approves funding requests but also shapes the policies guiding these economic development efforts.
