SITE READINESS

North Carolina has enjoyed considerable success in recent years in recruiting large economic development projects. The Economic Development Partnership of North Carolina (EDPNC) and the North Carolina Department of Commerce collectively announced job creation and capital investment commitments in 2021 and 2022 that shattered previous records. In 2022, the state welcomed 151 projects for $15.58 billion in capital investment and 27,144 jobs.  

With this success, the state has committed some of its best sites for projects requiring substantial land and readiness, while the competition for these projects continues to grow. Major manufacturing projects in the aerospace, automotive, clean energy, food processing, life sciences, and semiconductor industries, among others, are especially competitive and require ample site options, such as megasites, which are parcels of contiguous property of more than 1,000 acres that are viable for industrial development. 

To solve this problem, the North Carolina General Assembly established the Megasite Readiness Program as part of the state’s FY 2022-2023 budget legislation, providing $1 million for the identification and evaluation of sites for preferred development and marketing. This legislation mandates that the EDPNC engage a national site selection firm through a competitive process to produce a report evaluating sites and determining the five megasites best positioned for advanced manufacturing site selection searches conducted by major employers. The EDPNC solicited proposals from qualified firms across the nation, receiving more than ten proposals. A team including Jones Lang LaSalle (JLL), Maynard Nexsen, and Timmons Group was convened to conduct the identification and analysis.  

After a thorough study of power, wastewater, natural gas, site size and topography, and more, the team identified seven sites – two of which are currently marketed as megasites – as the best positioned for advanced manufacturing site selection searches. These sites are found in Edgecombe, Brunswick, Wilson, Nash, Pitt, Cumberland, and Rowan counties. 

The North Carolina General Assembly later amended the Megasite Readiness Program to include more opportunities grant funding, appropriating $10 million for use in the 2023-24 fiscal year and $97.8 million for use in the 2024-25 fiscal year. The General Assembly also broadened the number of preferred sites from five to seven. The EDPNC is now accepting grant applications for the 2023-2024 fiscal year. 

The General Assembly also budgeted $10 million for the 2024-2025 fiscal year for the Selectsite Readiness Program which will support the development of sites to increase North Carolina’s competitiveness in the siting or expansion of major manufacturing projects in several sectors. This program is a counterpart to the Megasite Readiness Program, as not all major manufacturing projects require the 1,000 acres minimum needed to qualify as a megasite. 

The EDPNC engaged Site Selection Group, LLC, and Thomas & Hutton to develop and manage the Selectsite Readiness Program to identify up to 15 Selectsites best positioned to successfully serve major advanced manufacturing projects, which would then receive increased development and marketing support from the state and the EDPNC. Selectsites will be identified and announced in the spring of 2024.