The Madison Board of Aldermen has unanimously approved a grant program that could help bolster economic growth and make it easier for business owners reinvest in local buildings. The Town of Madison Development Incentive Grant Program will give select business owners a chance to recover funds invested to make improvements and up current tax values.

Fibertex Personal Care, a Danish-based textile company, will invest $60 million to establish its first United States manufacturing plant in Asheboro, North Carolina. The company plans to create 145 jobs. As an incentive, the North Carolina project will be facilitated in part by a state Job Development Investment Grant, approved by the state's Economic Investment Committee. 

North Carolina has risen 14 spots to become the fourth most-attractive state in the nation for aerospace manufacturing, according to an annual study issued by global accounting firm PwC. The study assesses countries and states on factors including their economy, industry, tax policy, infrastructure and labor force.

One of the biggest potential job-creating bonanzas in the country, a giant new auto plant proposed by Toyota and Mazda, began in secret with a mysterious code name. Now it has become a full-blown race among states to try to reel in the $1.6-billion project that will create 4,000 good-paying direct jobs and thousands of other indirect jobs.

Mountain BizWorks, the local nonprofit that gives loans and training to small businesses, has secured $2.9 million in federal funding from the Small Business Administration, the Department of the Treasury, and the Economic Development Administration to continue and expand lending.

"The Rural Center will seed a locally-led loan fund for Roseboro small businesses," mayor Butler explained. "The initial fund is $100,000 and Roseboro businesses will have access to additional funds based on demand and activity, which could result in a local revolving loan fund of $250,000-$300,000."

Join CDFA, our technical assistance partners, and experienced brownfield communities as we discuss how the finance toolbox can be used to compliment the redevelopment and cleanup of your brownfield project.