Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
EDC presents alternatives to $1.8M shell building; county advances Career Center application plan
Summary
EDC President Jason Semple told commissioners May 16 that Golden Leaf funding rules and soil/site costs complicate a $1.8 million shell building; alternatives discussed included site prep ($~500,000), a virtual/build-to-suit shell, REDLG loans and a revolving fund. Separately, a proposed NC TeleCenter Career Center application would list Martin County as applicant with Martin Community College as co‑applicant.
Economic development funding and a proposed Career Center were discussed at the May 16 Martin County special called meeting.
Jason Semple, president and CEO of the Martin County Economic Development Commission, reviewed the history of the county’s prior shell building sale and explained constraints tied to Golden Leaf funding: funds recouped from the sale must be retained for reinvestment in another shell building as part of a revolving shell-building fund. Semple suggested alternative approaches including investing in site preparation (he estimated about $500,000) to make pads shovel‑ready, marketing a virtual or build‑to‑suit shell, or creating a revolving loan program for small businesses using grant funds. He also identified a potential REDLG no‑interest loan through a co‑op (Edgecombe‑Martin County EMC) as an option to fund Industrial Park improvements.
Commissioner Ronnie Smith proposed that repurposing Golden Leaf funds toward a smaller, targeted small‑business loan program could yield similar job growth with less risk; board members asked Semple to research feasibility and report back.
On the Career Center proposal, County Manager David Bone said changes in U.S. Economic Development Administration (EDA) rules require stronger industry commitments. The proposed arrangement would have Martin County as the applicant and Martin Community College as co‑applicant; MCC would provide instructors but would not be required to provide funding. Staff anticipated an application turnaround and hoped for notification by the end of August 2018. The board recommended a joint meeting with partners for further updates.
No funding decision for a new shell building was made; the $1.8 million request was not included in the FY 2018-19 draft budget.
