The High Point area has had a great record over the past decade of attracting new business and seeing existing businesses expand, and – while COVID-19 has thrown a wet blanket on much economic activity – there are still some new projects coming through the pipeline.
The High Point City Council has announced that, on Monday, July 20, the council will hold a public hearing on a new project being brought by the High Point Economic Development Corp.
The name of the company hasn’t been announced but the public notice of the hearing sent out this week was required by law to include some information. The legal notice from the city states that the mystery project would add $65 million to the tax base and create 120 jobs.
That’s assuming that the council approves the incentives and the company decides to locate in High Point once that approval is granted. Almost always, by the time these types of expansions reach the stage of a local government public hearing, the conclusion is a foregone one.
The unnamed project would include renovation of the building at 614 W. Green Dr. – which is known in the city as the former wood kiln building of Hayworth Roll and Panel.
The High Point Economic Development Corp. plans to announce more details a few days before the public hearing.
According to High Point EDC Loren Hill, the EDC and other city departments have been working very closely together “to bring new investment and new energy to the southwest area of downtown High Point,” which includes this area.
The area this project is considering is in one of High Point’s Opportunity Zones – parts of the city where local officials really want to help focus development through tax breaks, economic benefits and other enticements.
“If we are successful in landing this large project, it will be a driving force for the redevelopment of an historic part of High Point,” Hill said on Friday, July 10.
Hill also said that economic development officials have been focused “on enhancing small-scale manufacturing opportunities and getting investors to consider High Point’s two downtown Opportunity Zones.”
A third Opportunity Zone is in northwest High Point in Forsyth County.