Incentives OK’d for Projects that Could Bring more than 4M Square Feet of Industrial Space to Statesville
Provided by Charlotte Business Journal, Collin Huguley – Staff Writer on April 5, 2022 —
More than 4 million square feet of industrial space could soon be on the way in Statesville.
Statesville City Council yesterday approved incentives for NorthPoint Development and TPA Group to develop large industrial projects there. In total, the developers are proposing plans for nearly $300 million in capital investment and over 4 million square feet of industrial space upon full buildout.
NorthPoint is proposing the larger project of the two. The developer successfully rezoned over 425 acres last month for a project named N.C. Park 40/77. County documents show the site will be home to a project with a $215 million investment and up to 3.2 million square feet of industrial space just off interstates 77 and 40. That investment would be made by the end of 2029, and the city approved incentives to help cover infrastructure improvements at the project site.
The incentives approved by the city yesterday have a value of up to $4.7 million over five years, documents state. The estimated public infrastructure cost for the project is $9.3 million.
TPA was granted up to $986,040 over the course of three years for its project. TPA is planning Statesville Logistics Center, a $75 million development that will include between 1 million and 1.4 million square feet of industrial space. That project site is nearly 186 acres and is at the northwest corner of Interstate 77 and U.S. Highway 21.
To read the full article, visit Charlotte Business Journal.
Provided by Charlotte Business Journal, Collin Huguley – Staff Writer on April 5, 2022