Cabarrus Economic Development Corporation leaders celebrated $67 million of total investment made locally in 2009-10 during the organization's Annual Stakeholders Summit Friday.
"The Cabarrus County EDC is a powerful instrument," said Lynn Scott Safrit, chairman of the EDC board and president of Castle & Cooke, the company developing the N.C. Research Campus.
Safrit said Cabarrus County should be proud of the diversity of the investment that has been made in the community recently with new industry ranging from biotechnology to new green businesses. Local investments in 2009-10 generated 307 new jobs for Cabarrus County residents, who have suffered with double-digit unemployment as high as 13 percent in 2010.
One of the biggest investments in Cabarrus County in the last year makes up a majority of the $67 million investment the EDC celebrated Friday. Celgard, a Charlotte-based company that will expand in Concord, will invest $57.4 million in Cabarrus County and expects to create 223 jobs with an average pay of $28 per hour. Celgard plans to build a battery separator research and manufacturing facility on 22 acres in the International Business Park.
The EDC also celebrated the 40 jobs created by the Rug & Home store that opened last month in Kannapolis, investing $750,000 locally to renovate the old Target building on Cloverleaf Parkway.
The EDC also applauded the Harris Morrison Co. for investing $3.6 million to redevelop The Old Creamery and Hendrick Motorsports for its $4.9 million investment to create a 50,000-square-foot facility for storing cars awaiting restoration and display at private events. The Hendrick facility also generated five new jobs.
The theme of the summit Friday focused on new technology, green businesses and sustainability as the EDC introduced a panel of speakers from local businesses.
One of those businesses is SBM Solar, a pioneer in the research, development and manufacturing of the only UL certified non-glass solar technology in the world. The technology is used in roofing, boating and portable military and disaster relief equipment, said developer and company president Osbert Cheung. His business also was celebrated for its $600,000 investment in Cabarrus County and the creation of 10 jobs.
Another pioneer in green businesses locally is Terry Alston, owner or Freiheit Energy in Concord.
Alston is pioneering the development of biogas plants in the United States. Biogas can be used for creating vehicle fuel or electricity and is widely used in Germany, where Alston lived and worked for 10 years. Alston said he learned the biogas business in Germany, but recently decided to return to his hometown of Concord to start his own company.
Biogas is produced by an anaerobic digestion or fermentation of organic matter including manure, sewage, sludge, municipal solid waste or other forms of biodegradable waste. Biogas is comprised primarily of methane and carbon dioxide.
Ian Prince, manager of Real Estate Development for Roush Fenway Racing and the head of the Cabarrus Sustainability Council, spoke about efforts to start a countywide recycling project at Cabarrus County Schools and the use of solar energy to heat his company's hangar at the Concord Regional Airport.
Wade Tucker, an associate principal with the architectural and design firm LS3P and vice chairman of Midland's planning and zoning board, spoke about his company's efforts to build green. Tucker said he believes eventually building and zoning requirements will require all developments to use green methods.
The summit, which included a luncheon, also featured organic, locally grown and prepared food.
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