County, city set lure with $506K incentives package

ASHEBORO — Randolph County and the City of Asheboro agreed to split a $506,000 incentives package to attract a new company under the project name “Golden Wind.”

According to the Randolph County Economic Development Corporation (RCEDC), a structural assembly facility is looking to lease at two buildings in Asheboro. The company would serve the specialized volumetric modular industry, which supports the pharmaceutical, data and semiconductor markets, among others.

County commissioners and city council members accepted the package at a joint meeting Oct. 6.

RCEDC Business Recruitment Director Crystal Gettys said if Randolph County secures the business, it could bring 300 new jobs with an average wage of $55,133, and a capital investment of $20 million in building, personal property and equipment.

Gettys said they are competing with South Carolina and Virginia for this business, and that the due diligence process is already well along.

“The EDC believes that Golden Wind will be a tremendous asset to the community and will increase the value of property, generate a significant investment in real and personal property, and provide 300 new job opportunities,” Gettys said.

The county would pay $209,000 over five years, and Asheboro would pay $297,000. Asheboro will have to annex some property to provide utilities if the company chooses to come here.

Golden Wind also qualifies for state incentives grants from the North Carolina Department of Commerce.