Archive for the ‘News section’ Category

9-23-2022 – N.C. partners celebrate new Broyhill State Forest

Posted on: September 23rd, 2022 by admin No Comments

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September 23 2022

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By CADY DAVIS CDAVIS@NEWSTOPICNEWS.COM

Sep 22, 2022

 

LENOIR — State and local partners recently celebrated the upcoming establishment of the new Broyhill State Forest in Lenoir.

 

On Thursday, Sept. 22, The Conservation Fund, N.C. Department of Agriculture & Consumer Services (NCDA&CS), the Broyhill Family Foundation, N.C. Forest Service, N.C. Land and Water Fund, and other community leaders met at Grandin Acres in Lenoir to celebrate the efforts to protect and establish the new Broyhill State Forest in Caldwell County.

 

The 402-acre Broyhill State Forest property will be added to North Carolina’s state forest system, which includes 12 publicly accessible educational, recreational, and working forest landscapes. Broyhill State Forest will help protect water quality, wildlife, and natural resources, while also securing new recreational access for the community and increasing connectivity for nearly 2,500 acres of surrounding protected lands.

 

“This property had been in our family for decades,” said Hunt Broyhill, president of the Broyhill Family Foundation. “It’s really a win-win situation because the state and local communities are going to be able to have land for recreation space. It always seems like when we grow more and more, recreation space is hard to come by. In the meantime, the value of the land is being unleashed for our charitable foundation so that we’ll be able to recirculate those funds back into charitable causes in the community. It’s really a win-win for the people of Caldwell County on both sides. We’re just excited to be involved and happy to be in the middle of it.”

 

The event on Thursday celebrated the N.C. Forest Service’s impending acquisition of the property from The Conservation Fund, thanks to funding from the N.C. Land and Water Fund, Fred and Alice Stanback, and other supporters.

 

Among the attendees on Thursday were Caldwell County Commissioner Donnie Potter and board Chairman Randy Church; EDC Executive Director Deborah Murray; and Sen. Warren Daniel (R-46).

 

“I want to thank the Broyhill family for allowing the state to purchase this for public use,” said Daniel. “I just think it’s important to protect green spaces. The more I travel to Raleigh, the less green spaces I see, so I’m glad to see some green spaces being preserved in our part of the state. I think it will be a good resource for the public and a good acquisition for the state.”

 

The Broyhill Family Foundation, the previous landowners, founded Broyhill Furniture.

 

The working forest in the Grandin community of Kings Creek is where the family gets its name.

 

The high-quality hardwood forests in Western North Carolina were a big reason the furniture business was such a major driver of the state’s economy.

 

The Broyhill family and local historical organizations wished to safeguard this site for the community and to highlight the significant contribution the furniture industry made to the history of this region.

 

The significant forest and animal habitats noted in the State Forest Action Plan and State Wildlife Action Plan will benefit greatly from improved public recreational access provided by the new state forest. The state will oversee the entire site as a functional stewardship forest.

 

The Conservation Fund is working to transfer the property to NCDA&CS in 2022.

 

For more information, visit www.conservationfund.org.

 

9-21-2022 – Shurtape receives safety awards from NCDOL

Posted on: September 21st, 2022 by admin No Comments

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September 21 2022

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By NEWS-TOPIC STAFF

Sep 20, 2022

 

HICKORY — Shurtape Technologies, LLC, an industry-leading manufacturer and marketer of adhesive tape and consumer home and office products, received seven of North Carolina Department of Labor’s (NCDOL) Safety Awards for 2021 safety performance.

 

The NCDOL presented the awards to Shurtape during its Safety Awards banquet on Wednesday, Sept. 7 in Hudson, where the company received six Gold Awards and one Silver Award.

 

Administered through the NCDOL’s Education, Training, and Technical Assistance Bureau of the Occupational Safety and Health Division, the Annual Safety Awards program recognizes private and public firms that achieve and maintain good safety records.

 

To qualify for the safety award, companies have to maintain an incident rate of at least 50% below their industry’s average. According to the department, the program is designed to stimulate interest in accident prevention and to promote safety in the workplace by providing an incentive to employers and employees to maintain a safe and healthful workplace.

 

“We are thrilled to receive this safety recognition from the North Carolina Department of Labor once again,” said Richard S. Kilpatrick, Ph.D., CSP, Corporate Health & Safety Manager of Shurtape Technologies, LLC. “Our culture is centered around the health and safety of our team members. It takes commitment and hard work from everyone across our operations to set an industry standard for safety. We thank the department for acknowledging the important safety activities we undertake each year.”

9-17-2022 – CC&TI offers BioWork Process Technician course

Posted on: September 20th, 2022 by admin No Comments

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September 16 2022

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The new Biopharmaceutical Technology lab cleanroom on the Caldwell Campus of CCC&TI provides students with the opportunity to simulate the work environment of local pharmaceutical manufacturing facilities.

Contributed

 

By NEWS-TOPIC STAFF

Sep 15, 2022

 

HUDSON — Caldwell Community College and Technical Institute will offer the BioWork Process Technician course this fall to prepare workers for entry-level career opportunities in some of the area’s fastest growing industries.

 

The BioWork Process Technician course provides basic preparation for process technician jobs in bioprocess manufacturing, pharmaceutical manufacturing and chemical manufacturing. The course will include understanding the role of a process technician, safety, quality processes, measuring process variables, transforming matter, process technology (including processing equipment and plant utilities), controlling the process, maintaining sterile processes and growing living cells.

 

The BioWork Process Technician course is scheduled for Mondays and Wednesdays, 6 p.m. to 9 p.m., from Oct. 3 to Dec. 14 on the Caldwell Campus in Hudson. The course will combine classroom lecture and online instruction. The total cost for the course is $263, which includes textbook.

 

For more information or to reserve a seat for the BioWork Process Technician course, please call 828-726-2242.

9-16-2022 – CCC&TI Biopharmaceutical Technology hosts open house

Posted on: September 20th, 2022 by admin No Comments

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September 16 2022

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The new Biopharmaceutical Technology lab cleanroom on the Caldwell Campus of CCC&TI provides students with the opportunity to simulate the work environment of local pharmaceutical manufacturing facilities.

 

By NEWS-TOPIC STAFF

Sep 15, 2022

 

 

HUDSON — Caldwell Community College and Technical Institute will host open house and information session events next week for the new Biopharmaceutical Technology program with three opportunities for prospective students to learn more about the program and tour the facilities.

 

The events are scheduled for Tuesday, Sept. 20 at 10 a.m. and 5 p.m. and Saturday, Sept. 24 at 10 a.m. in J Building on the Caldwell Campus in Hudson. Prospective students are invited to attend any session, each of which will include tours of the new biopharmaceutical labs, classrooms and simulated cleanroom.

 

CCC&TI is only the second community college in the state to offer an Associate in Applied Sciences degree in Biopharmaceutical Technology, and the only one that offers it west of Raleigh. The program was added in 2020 in response to the growing pharmaceutical industry in Caldwell County and its need for workers.

 

The program offers a comprehensive curriculum in bioprocessing that includes hands-on learning in a state-of-the-art cleanroom and lab. CCC&TI’s biopharmaceutical cleanroom has the technology to facilitate simulated drug development and contract manufacturing. The program is also supported by an active advisory board of the professionals in the field.

 

During the events, prospective students can tour the biopharmaceutical cleanroom lab and hear from Caridad Smith, CCC&TI’s Director of the Biopharmaceutical Technology Program. Smith will provide details on the college’s training and manufacturing capabilities and share information about opportunities for internships, apprenticeships, and job openings in the biopharmaceutical/pharmaceutical and other life science industries.

 

The Biopharmaceutical Technology Program and the information sessions will be held in CCC&TI’s Career Center (J Building). For more information or to RSVP for one of the information sessions, visit www.cccti.edu/BioPharm.

9-12-2022 – CCC&TI offers Small Business Center workshops

Posted on: September 12th, 2022 by admin No Comments

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September 1 2022

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By NEWS-TOPIC STAFF

Sep 9, 2022

 

HUDSON — Caldwell Community College and Technical Institute’s Small Business Center offers free workshops, one-on-one assistance, and many more services to help local small businesses. To reserve a seat at one of the free workshops, call 828-726-3065 or visit www.cccti.edu/smallbusiness to register.

 

Upcoming Free Online and In-Person Workshops:

 

Creating a Winning Business Plan

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Creating a Winning Business Plan” from 2 p.m. to 3 p.m., and again from 6:30 p.m. to 7:30 p.m. on Thursday, Sept. 15. This webinar offers simple, easy-to-follow steps for creating a business plan.

 

Strategic Planning: Getting Started

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free in-person workshop at the HUB Station titled “Strategic Planning: Getting Started” from 8 a.m. to 10 a.m. on Wednesday, Sept. 21. Statistics confirm that implementing a strategic plan nearly doubles a business’s chance of success. This session is designed to simplify the planning process and provide participants with actionable steps at all stages of strategic plan development. Experts will highlight key components of a successful plan and share a variety of strategies to effectively capture the voices of the board, staff and community in the final product. The HUB Station Business Center is located at 143 Cedar Valley Rd., Hudson.

 

Strategic Plan in Action: How to Keep it Current and Relevant

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free in-person workshop at the HUB Station titled “Strategic Plan in Action: How to Keep it Current and Relevant” from 10:15 a.m. to 12:15 p.m. on Wednesday, Sept. 21. This session is designed to help nonprofit leaders plan beyond the document creation process. Participants will learn to identify and overcome common barriers that stall strategic actions, implement practical strategies to keep the team engaged, and position the organization for on-going success. This workshop is ideal for organizations needing to take an existing plan off the shelf and organizations ready to implement a new strategic plan. The HUB Station Business Center is located at 143 Cedar Valley Rd., Hudson.

 

Cybersecurity Introduction

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Cybersecurity Introduction” from 12 p.m. to 1 p.m. on Thursday, Sept. 22. Cybersecurity topics, threats, and the general field of cybersecurity are explained in a way that is relevant to small businesses.

 

Grant Writing 101: What the Pros Know

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Grant Writing 101: What the Pros Know” from 9 a.m. to 10:30 a.m. on Tuesday, Sept. 27. This webinar reviews the questions nonprofits need to answer prior to searching and applying for grant funds, outlines the seven basic elements of most proposals, and shows participants how to match their needs to funder priorities.

 

Show Me the Money: Effective Grant Research

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Show Me the Money: Effective Grant Research” from 11 a.m. to 12:30 p.m. on Tuesday, Sept. 27. Participants will learn the details needed to begin prospect research, how to locate available grants, how to navigate organizational websites to locate funding opportunities, and identify pitfalls to avoid that will save time and expedite research and writing processes.

 

Five Things You Should Know Before Starting Your Business

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Five Things You Should Know Before Starting Your Business” from 12 p.m. to 1 p.m. on Wednesday, Oct. 5. Making the decision to become an entrepreneur and start a small business is not for everyone. It takes hard work, grit, and determination. This session will discuss five important steps to consider when turning a passion into a business.

 

Want to Start Your Own Business?

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Want to Start Your Own Business?” from 12 p.m. to 1 p.m. on Tuesday, Oct. 11. This webinar outlines a step-by-step process of assessment, customer discovery, and business plans to get started, as well as tools to help assess “will this business be successful?” Each attendee will receive a 51-page business start-up guide that provides links to many resources needed to register a business, get legal advice, patent advice, etc.

 

Ask for the Money — Best Practices for Raising Capital for Your Company from any Source

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Ask for the Money — Best Practices for Raising Capital for Your Company from any Source” from 12 p.m. to 1 p.m. on Tuesday, Oct. 18. Participants will learn how to put together a compelling financial plan that attracts investment from multiple sources.

 

ABCs of Starting a Small Business on a Limited Budget

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “ABCs of Starting a Small Business on a Limited Budget” from 2 p.m. to 3 p.m., and again from 6:30 p.m. to 7:30 p.m. on Tuesday, Oct. 18. These are the ABCs of how to start a small business, combined with winning strategies from low-cost startups. Starting a small business on a limited budget is easier now than it has ever been.

 

Selling Online: A Beginner’s Guide

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Selling Online: A Beginner’s Guide” from 9 a.m. to 11 a.m. on Monday, Oct. 24. One way for a small business to expand its market is to sell products online. This webinar will discuss several options to help determine whether there is a need to sell online, explore online platforms, how to setup an online store and how to develop an online marketing plan.

 

eCommerce: Building a Business on Shopify

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “eCommerce: Building a Business on Shopify” from 12 p.m. to 2 p.m. on Monday, Oct. 24. This webinar will explore the features of well-known e-commerce host Shopify and compare it to other options for creating an online store. PayPal and other payment gateways will also be discussed, as well as shipping and inventory control.

 

Finding Your Customer and Creating a Marketing Plan

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Finding Your Customer and Creating a Marketing Plan” from 2 p.m. to 3 p.m., and again from 6:30 p.m. to 7:30 p.m. on Tuesday, Oct. 25. Participants will learn the four types of customers, sources that are available to discover customers in a particular market area, and five ways to create a winning plan to target them.

 

Selling Products with Amazon and Etsy

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Selling Products on Amazon and Etsy” from 9 a.m. to 11 a.m. on Wednesday, Oct. 26. This class will explore the popular platforms of Amazon and Etsy and how to sell products on both. Participants will learn how to start an online e-commerce business quickly and work toward becoming an online entrepreneur.

 

Caldwell Community College and Technical Institute’s Small Business Center will offer a free online workshop titled “Finding Traffic for Your Business Online with Paid Ads” from 12 p.m. to 2 p.m. on Wednesday, Oct. 26. In this webinar, participants will learn about different options to advertise a business using online resources. These options are often easier and much less expensive than traditional advertising. Topics to be discussed include social media advertising through major platforms such as Facebook and Instagram, as well as Google Ads and other options.

9-1-2022 – PNC awards Blue Bell for renovations

Posted on: September 2nd, 2022 by admin No Comments

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September 1 2022

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By CADY DAVIS CDAVIS@NEWSTOPICNEWS.COM

Sep 1, 2022

 

LENOIR — Blue Bell at Lenoir Mills has been honored for their historic preservation efforts with the Gertrude S. Carraway Awards of Merit presented by Preservation North Carolina (PNC).

 

Recognition will be given to 17 winners across the state in each of the following categories: Gertrude S. Carraway Awards of Merit (up to 12 given each year); the Minnette C. Duffy Landscape Preservation Award; the L. Vincent Lowe, Jr. Business Award; the Stedman Incentive Grant; the Robert E. Stipe Professional Award; and the Ruth Coltrane Cannon Award.

 

To view descriptions of these awards, please visit www.presnc.org/awards.

 

The 2022 Preservation North Carolina Honor Awards winners include the Gertrude S. Carraway Awards of Merit for the Blue Bell (Lenoir Cotton) Mill in Lenoir.

 

“Tom and I, our objectives and intentions are about preservation and community development,” said Yorke Lawson, one of the owners of Blue Bell along with Tom Niemann. “That’s what brought us here. Preservation NC sent us to Lenoir in 2016, so it’s kind of come full circle.”

 

According to the Preservation NC website, the Gertrude S. Carraway Awards of Merit are named in honor of the late Dr. Gertrude S. Carraway, a noted New Bern historian and preservationist. Presented since 1974, a maximum of 12 awards are given each year. The Awards of Merit give deserved recognition to individuals or organizations that have demonstrated a genuine commitment to historic preservation through extraordinary leadership, research, philanthropy, promotion, and/or significant participation in preservation.

 

In 2021, Allison Gray and David Maurer of Raleigh were recipients of the Gertrude S. Carraway award for the restoration of the Stine’s Ice Cream Parlor in downtown Lenoir, now the location of Mandem Syndicate Barbershop, a modern barbershop with a residential unit on the second floor.

 

“We’re just thrilled and overwhelmed with these recognitions,” said Kaylynn Horn, director of Downtown Economic Development. “With our Main Street programs, our mission and charge is economic development through historical preservation, so to see our projects receive such prestigious awards is an honor for us. All of the projects downtown are award-winning. We’re looking forward to seeing more of them.”

 

Lawson and Niemann began developing the Blue Bell Plant, Steele Cotton Mill, and the freight depot several years ago.

 

Blue Bell apartments offer residents spacious loft living in downtown Lenoir. Blue Bell at Lenoir Mills was originally built in 1901, later expanded in 1948, and reconstructed according to National Park Service Historic Standards in 2021. The conversion of the former Lenoir Cotton Mill, once the largest mill in Lenoir, Blue Bell at Lenoir Mills is a significant representation of late nineteenth century textile mill architecture. The masonry façade, timber-intensive interior, large wooden columns, and 12-foot-tall windows with segmental arched tops which wrap the building, are among the original details preserved. Blue Bell at Lenoir Mills has been reimagined into 46 one- and two-bedroom loft-style apartments and is located within walking distance of historic downtown Lenoir.

 

“We were particularly happy to include a number of local businesses as subcontractors on the project,” said Lawson. “That will continue in our second phase. The number one need, ever since Tom and I have been coming here, has been market-rate housing. The employers are here, but the employees have very few places to live. The 46 units in the Blue Bell filled very quickly; we’re full and there’s a waiting list.”

 

Each year, the honor awards recognize outstanding people, projects, businesses, and organizations in the field of historic preservation across the state. The 17 winners will be honored in Winston-Salem on Wednesday, Oct. 26 from 5 p.m. to 8 p.m. as part of PNC’s annual historic preservation conference. The award ceremony will feature a presentation followed by a reception at the Historic Brookstown Inn.

 

Tickets to this event are open to the public and available for purchase online at PreservationNC.org/awards.

 

“It’s a wonderful thing,” said Lenoir Mayor Joe Gibbons. “We work closely with Preservation NC and Senator Ted Alexander, who was behind bringing Yorke and Tom here a number of years ago now. These apartments are a wonderful thing that we needed in Lenoir and Caldwell County. We’re thankful for Yorke and Tom for coming to our community and investing in our community … We’re honored that we work so well with Preservation NC and all those who have been involved in these projects. I can’t say enough about how great a project this is. We hope it continues to be successful and continues to grow.”

 

Visit www.bluebellatlenoirmills.com for more information about the apartments at Blue Bell at Lenoir Mills.

 

Founded in 1939, Preservation North Carolina (PNC) is North Carolina’s only private nonprofit statewide historic preservation organization. Its mission is to protect and promote buildings, landscapes, and sites important to the diverse people of North Carolina. Through its award-winning Endangered Properties Program, Preservation North Carolina acquires endangered historic properties and then finds purchasers to rehabilitate them. PNC has protected more than 800 historic properties statewide.

9-1-2022 – Grant aids county residents with internet access

Posted on: September 1st, 2022 by admin No Comments

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September 1 2022

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By NEWS-TOPIC STAFF

Aug 31, 2022

 

RALEIGH — Caldwell County is among 69 counties throughout the state to get help toward providing internet access to residents.

 

Governor Roy Cooper announced Wednesday (Aug. 31) that nearly 85,000 households and more than 2,400 businesses in 69 counties are set to receive access to high-speed internet thanks to more than $206 million of Growing Rural Economies with Access to Technology (GREAT) grants. This is the state’s largest round of GREAT grant awards to date. With this announcement, over $260 million in GREAT grants have been awarded to providers since July 2022. Additional grants are expected to be announced this fall.

 

“High-speed internet access is critical for people to work, learn, access telehealth and connect with one another,” said Cooper. “Thanks to this significant GREAT grant award funding, many more North Carolina families and small business owners will have the tools they need to succeed in today’s digital world.”

 

The N.C. Department of Information Technology’s (NCDIT) Broadband Infrastructure Office, part of the Division of Broadband and Digital Equity, today awarded GREAT grants to expand broadband infrastructure to internet service providers.

 

“We are excited to be awarding this unprecedented amount of funding to bring high-speed internet access to such a large number of residents and businesses across the state,” said NCDIT Secretary and State Chief Information Officer Jim Weaver. “These funds will go a long way in closing the digital divide by bringing equitable access to both rural and urban communities.”

 

Cooper made the funding announcement Wednesday at the Mebane Public Library alongside NCDIT Deputy Secretary for Broadband and Digital Equity Nate Denny and Lumos CEO Brian Stading. Lumos, a provider of 100% Fiber Optic Internet, will be receiving over $7 million in GREAT grants to serve more than 2,600 households and businesses in Alamance and Randolph counties. At the event, the Governor observed a fiber splicing demonstration by Lumos officials.

 

The GREAT grant program provides matching grants to internet service providers and electric membership cooperatives that may partner with individual counties to compete for funding to expand high-speed internet service to unserved and underserved areas of the state. The GREAT grant awards are in addition to the $23.4 million awarded on July 18 and the $30.8 million awarded on Aug. 1 of the $350 million total funding for this round.

As part of the GREAT grant eligibility requirements, all internet service provider applicants must be participating in the Affordable Connectivity Program (ACP), which provides eligible low-income households a $30 per month discount on high-speed internet service or provide access to a comparable low-cost program.

 

NCDIT received 305 applications for this round of GREAT grants, and internet service providers proposed to serve more than 487,000 North Carolina homes and businesses. Applications were scored based on the number of households and businesses they propose to serve, the average cost to serve those locations, and the speeds offered. Applicants must agree to provide high-speed service, defined as a minimum of 100 Megabits per second (Mbps) download and 20 Mbps upload, scalable to 100 Mbps download and 100 Mbps upload on or before Dec. 31, 2026. All awards are contingent on final executed grant agreements with broadband provider partners.

 

For more information about the NCDIT Division of Broadband and Digital Equity, visit https://www.ncbroadband.gov.

 

Learn more about the ACP and $30 per month reliable, high-speed internet packages offered by internet service providers at getinternet.gov.

8-13-2022 – You Decide: Should We Use Incentives to Attract Firms?

Posted on: August 15th, 2022 by admin No Comments

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August 13 2022

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By Mike Walden

Aug 12, 2022

 

North Carolina recently received some outstanding economic news. Our state was named “America’s Top State for Business” by a major national media organization. This is, indeed, a high honor. It recognizes the attractiveness of North Carolina to both national and international firms. Experts say the state’s labor supply, educational systems — especially universities and community colleges — competitive cost-of-living, and attractive weather and natural amenities are some of the reasons for our high business ranking.

 

Yet there may be another factor at work — incentives. Incentives are a type of financial rebate to businesses that locate in North Carolina. Usually they take the form of a reduction in taxes paid by the company over several years. The company still pays state taxes, but just less. The incentive packages can be big — even over a billion dollars — if the tax reductions last several decades. Local governments in North Carolina can also offer incentives, but they’re usually much smaller in dollar amount compared to the state’s programs.

 

Recently I talked to a local citizens group about incentives. Several questions were raised, including why incentives are used, whether incentives should be banned and if North Carolina loses money with incentives — money that could be used for crucial state programs. Let me provide the same answers in this column as I gave to the group.

 

Incentives are used because they work. Business incentives were first offered by a few states in the 1930s, but they have significantly expanded in the last 30 years. In particular, large, well-known companies bringing thousands of jobs and billions of dollars in economic activity will rarely consider locating in a state without incentives.

 

Does this mean only incentives are important? Not at all. A business will have specific requirements for labor, skills, access to suppliers, access to buyers, transportation and other factors. Research shows a business looking for a site will examine numerous locations across the country — and possibly even the globe — and then decide on a handful of sites that meet their requirements. The business will consider each of these two, three, four or five locations as equal. It’s then the size of the offered incentives package that will create the winner.

 

Some may say states are being used by companies to provide them with more financial benefits. If so, then why don’t states just agree not to use incentives? There have been efforts to do this, but thus far they have failed. Why? Because even though incentives can be costly to states in terms of foregone tax revenues, they can still generate net benefits.

 

Consider this example. Suppose the “Big Deal Company” is offered incentives worth $250 million over 20 years to come to North Carolina, and they accept. Is the North Carolina treasury in the hole for $250 million for the next twenty years?

 

Not necessarily. If the new economic activity generated by the Big Deal Company creates $350 million of new state revenue potential during the next 20 years, then even including the incentives, North Carolina’s public revenue would be ahead by $100 million.

 

The gain could even be bigger if North Carolina is able to reduce spending on unemployment compensation and other economic support programs as a result of employment rising and unemployment falling.

 

But how do we know if the Big Deal Company will be prosperous enough to pay $350 million to the state over 20 years? Based on the company’s hiring and production plans, we could estimate their revenues, payroll and other key factors to generate forecasts of what they would pay the state, before incentives. Then we could compare those forecasts to the costs of incentives. If the forecasts of new revenues and spending savings are greater than the incentives, then using the incentives could bring a net gain to the state.

 

Indeed, this is exactly what North Carolina does before offering incentives. For the past 20 years, the state has been using an economic model that predicts the benefits and costs of incentive packages.

 

But some of you may be thinking — what if the model is wrong? What if, after receiving the incentives, the company doesn’t hire as many workers, produce as much output and pay as much tax revenue to the state?

 

Fortunately, North Carolina has thought of this possibility and includes “clawback” provisions in the incentives contract. If the company doesn’t meet the hiring number they claimed they would, the size of the incentives is reduced —“clawed-back” — in proportion to the number of missed jobs. North Carolina has used this clawback provision several times.

 

Of course, there’s always the possibility a company would have come to North Carolina without incentives. However, experience suggests this possibility may be slim. For example, recent records revealed that North Carolina was about to lose a large multi-hundred-million-dollar firm to another state because North Carolina’s incentives package was too small. The state increased the amount and the firm announced they were coming to North Carolina.

 

There’s much to dislike about incentives, and most people wish they wouldn’t be used. However, as North Carolina’s economy has been transformed in recent decades, with traditional industries like tobacco, textiles and furniture downsizing and new sectors such as technology and pharmaceuticals rising, the state has strived to attract new companies so that good-paying jobs can be offered to our workforce. Is it worthwhile to use incentives to accomplish this goal? You decide.

 

Walden is a William Neal Reynolds Distinguished Professor Emeritus at North Carolina State University.

8-11-2022 – EDC presented proposal to purchase 30-acres

Posted on: August 11th, 2022 by admin No Comments

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August 11 2022

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CADY DAVIS CDAVIS@NEWSTOPICNEWS.COM

 

Deborah Murray, executive director of the Economic Development Commission (EDC), presented a proposal to purchase the 30-acre Hollowfield McDowell property on Helton Road in Sawmills for the purpose of industrial development.

 

“The development there would be a tremendous investment in Sawmills,” Murray said.

 

The property has the potential to add value, jobs, and investment in the community. The EDC has also partnered with an engineering consultant to maximize the value of the property.

 

“We’ve decided that naming it Evergreene Industrial Park gives a nod to the recently deceased mayor of Sawmills,” Murray said. “It gives it something that is important to us, being green and sustainable and standing for 21st century types of things, but also a nod to the history and legacy of something important to the town of Sawmills.”

 

Potter asked Murray if there were any concerns about the property becoming a Brownfield site, which is a site that may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminate. Murray answered that she was not aware of anything of that nature planned for this property.

 

After Murray’s presentation, commissioners voted unanimously to approve this land acquisition.

8-4-2022 – County’s unemployment rate ticks upward

Posted on: August 4th, 2022 by admin No Comments

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August 4, 2022

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By NEWS-TOPIC STAFF

Aug 3, 2022

 

RALEIGH — At 4.1%, Caldwell County’s unemployment rate increased in June from May’s rate of 3.6%.

 

Unemployment rates (not seasonally adjusted) increased in 98 of North Carolina’s counties in June and decreased in two. Edgecombe County had the highest unemployment rate at 8.0% while Orange and Buncombe Counties each had the lowest at 3.3%. All 15 of the state’s metro areas experienced rate increases. Among the metro areas, Rocky Mount had the highest rate at 6.5% while Asheville and Durham-Chapel Hill each had the lowest at 3.4%. The June not seasonally adjusted statewide rate was 4.1%, the same as Caldwell.

 

In Caldwell, 1,477 out of a workforce of 36,274 are listed as unemployed. The county ranks in the middle of the state’s 100 counties, or 49th, with its current joblessness rate.

 

When compared to the same month last year, not seasonally adjusted unemployment rates decreased in all 100 counties. All 15 of the state’s metro areas experienced rate decreases over the year.

 

Last year, Caldwell County recorded an unemployment rate of 5.8% for the month of June. Of course, the state was still climbing out of the depths of the COVID-19 pandemic that resulted in economic peril.

 

The number of workers employed statewide (not seasonally adjusted) decreased in June by 13,268 to 4,935,844, while those unemployed increased by 22,766 to 209,855. Since June 2021, the number of workers employed statewide increased 220,290, while those unemployed decreased 63,454.

 

It is important to note that employment estimates are subject to large seasonal patterns; therefore, it is advisable to focus on over-the-year changes in the not seasonally adjusted estimates.

 

The next unemployment update is scheduled for Friday, Aug. 19 when the state unemployment rate for July 2022 will be released.

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