High Point council approves $75,000 incentive for Project Launch to renovate Long Street building

The High Point City Council approved a performance‑based economic incentive for Project Launch (Team Launch Point) to renovate a downtown Long Street office building and support a private business incubator and start‑up accelerator.

Peter Bishop, the city’s economic development director, described Project Launch as a venture‑creation firm seeking a $75,000 building upfit grant tied to job creation and building improvements at 1321 Long Street. Bishop said the project would renovate the approximately 15,000‑square‑foot building, help create space for start‑ups and that the city is competing with other municipalities for the opportunity.

Drew Hare, founder of Team Launch Point and owner of Growth RE, presented the applicant’s plan and said phase one of the project has a budget of about $300,000 and that the platform intends to found portfolio companies in logistics and vehicle mobility. Hare said the venture creation platform expects to create no fewer than 40 jobs over the next four to five years and that two initial business launches are scheduled for 2026.

With no public speakers signed to address this item, the mayor moved to approve the incentive; the motion was seconded and the council voted aye, approving the $75,000 incentive over a two‑year period to assist renovation at 1321 Long Street.

What happens next: the city will execute the performance‑based agreement and monitor job‑creation metrics and building upfit milestones according to the city’s job‑creation and building‑upfit policy.