NC Selectsite Readiness Program | Proposed Guidelines | Phase 1

Posted on by Michael Randle

North Carolina has enjoyed considerable success in recent years in recruiting large economic development projects. With this success, the State has also depleted some of its best sites for projects requiring substantial land and readiness, while the competition 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.

To that end, the North Carolina General Assembly established a Megasites Readiness Program as part of the state’s FY 2022-23 budget legislation. The Program was amended, and substantial funding added as part of the 2023-24 budget legislation.

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Nucor focused on growth as it eyes production start for $350M Triad, N.C. mill

Posted on by Michael Randle

Nucor Corp. (NYSE: NUE) is moving toward a production start at its new $350 million steel mill in Davidson County.

The Charlotte-based steelmaking giant confirmed that the mill is on track to open in the first quarter of 2025. Nucor also has hired 139 of the expected 200 new employees that will work at the mill, a company spokesperson told the Charlotte Business Journal. Nucor CEO Leon Topalian confirmed the mill’s timeline on the company’s second-quarter earnings call last week.

Nucor disclosed in June that it was investing $20 million to establish a rebar facility near the new mill. The company announced its plans for the mill near Lexington back in April 2022. Construction began in August 2023. The micro mill will produce steel bar and rebar, joining similar facilities in Missouri and Florida.

Triad Business Journal

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Nice deal in Tennessee

Posted on by Michael Randle

COLLIERVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and PANTHERx® Rare Pharmacy officials announced today the company’s plans to establish a new dispensing site in Collierville, Tennessee.

The Collierville facility will be the company’s first base in the Volunteer State and when completed, will house 120 new jobs, increasing the company’s total workforce by more than 20%.

The average PANTHERx® Rare wage in the Collierville location will be well over the Shelby County median, and the company plans to invest more than $4 million over the next two years.

Founded in 2011 and based in Pittsburgh, PANTHERx® Rare has experienced unprecedented growth in the last decade, growing to become the seventh largest specialty pharmacy in the U.S. A seven-time winner of the MMIT Patient Choice Award, PANTHERx® Rare specializes in caring for people living with rare and devastating conditions. There are an estimated 7,000 rare diseases, but only 500 have an FDA-approved treatment. PANTHERx® Rare projects that the company will dispense 600,000 prescriptions over the next five years at the Shelby County location.

Since 2020, TNECD has supported 50 economic development projects in Shelby County, resulting in nearly 5,500 job commitments and more than $1 billion in capital investments. Tennessee Department of Economic & Community Development

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