RALEIGH, N.C. – The Piedmont Triad Research Park is getting a $3.5 million boost for its site development efforts through a one-time state grant.
The Piedmont project was one of 11 government and non-profit efforts to receive one-time funding from the North Carolina Department of Commerce on Wednesday. The awards were funded by a one-time $10 million allocation from the N.C. General Assembly.
The funds will be used to “assist in moving electrical power lines and assist with site grading for the purpose of further developing the Piedmont Triad Research Park,” the Commerce Department said in a release.
The Piedmont park, which is located in Winston-Salem, is being built as the Triad’s biotech and information technology hub. It is already the home for drug development firm Targacept and several other companies.
Among the other recipients was the Defense & Science Technology Accelerator in Fayetteville. It received $300,000.
The “Economic Development Reserve” accepted applications for the grants, and 79 were filed. Funds were awarded in two categories: economic development projects and site acquisition and infrastructure.
The awards other than the DSTA and the Piedmont project were:
Economic Development Project Grants:
• Caldwell County Economic Development Corp., Caldwell County: $450,000 to assist in funding a rail off-load facility to enhance county capacity to support furniture distribution.
• EnergyXchange, Inc.,Yancey County: $73,000 to assist in funding the drilling of wells and the installation of a CO2 stripping system and a wind turbine to improve the organization’s processes for capturing and using landfill gases as an energy source.
• Marketing Association of Rehabilitation Centers, Henderson County (project serving 16 western counties): $487,000 to assist in funding building renovation costs, the purchase of a converting machine, and funding for a national marketing representative for a growing product line manufactured by nine factories operated by employees with disabilities.
• Pitt County, Pitt and Martin Counties: $110,000 to assist in funding engineering and site certification costs for the proposed Pitt-Martin Joint Industrial Park property.
• Town of Scotland Neck, Halifax County: $155,000 to fund Phase 1 expenses for fencing, bridges, walkways, equipment and signage for Sylvan Waterfowl Park & EcoCenter.
• Yadkin-Pee Dee Lakes Project, Inc., Montgomery County: $175,000 to assist in funding the Starworks Center for Creative Enterprises business incubator.
Site Acquisition and Infrastructure Grants
• Burke Partnership for Economic Development, Burke County: $450,000 to assist in funding the grading of county industrial park property adjacent to I-40.
• City of Elizabeth City, Pasquotank County: $3,500,000 to assist in funding acquisition of land necessary for development of the Elizabeth City Aviation Research & Dev. Commerce Park, transaction costs necessary for the site acquisition, and extension of the airport’s taxiway to serve the park.
• Kerr-Tar Regional Economic Development Corporation, Vance, Granville, Warren and Franklin Counties: $800,000 to assist in funding the acquisition of land necessary for the Kerr-Tar Regional Hub industrial park project.