Henderson, N.C. – Veteran economic developer Bud Cohoon has been named executive director of Triangle North, the network of tax-advantaged business and industrial parks located in Franklin, Granville, Vance and Warren counties.
Cohoon brings 36 years experience recruiting new and expanding businesses and industry to North Carolina as an economic developer for the N.C. Department of Commerce and the N.C. Electric Membership Corp. He assumed the Triangle North post Jan. 1.
"We are so fortunate to have an executive with Bud’s level of experience and track record of success working on our behalf to market our parks," said Danny Wright, chairman of the Kerr-Tar Regional Economic Development Corp. (KTREDC), the nonprofit organization that owns and develops Triangle North.
"We offer the highest level of financial incentives available in the state to companies that locate in our parks and create jobs," Wright said. "We’re excited that Bud will be working full time to share our story with companies in growing industries that can benefit from having such an affordable way to startup or expand in the Research Triangle Region of North Carolina."
Cohoon retired in January from the N.C. Electric Membership Corp. after serving as manager of economic development since 1982. He spearheaded statewide economic development efforts for the state’s electric membership cooperatives, which led to the location or expansion of such companies as Aga Gas, Asmo Automotive, Helig-Meyers, Minnesota Mining Manufacturers, QVC, Rocco Inc., and Volvo-White, as well as numerous shopping centers.
From 1972-1982, Cohoon served as senior economic development representative for the N.C. Department of Commerce. In that position, he was responsible for landing such leading manufacturers as Glaxo Pharmaceutical in Zebulon and The Research Triangle Park (RTP), Sumitomo Electric in RTP, Baker-Perkins in Goldsboro and Consolidated Diesel in Whitakers.
Cohoon is a board member and past president of the North Carolina Economic Developers Association and member of the Greater Raleigh Chamber of Commerce. He earned a bachelor’s degree in economics in 1966 from the University of North Carolina at Chapel Hill, where he was pitcher on the baseball team that competed in the 1966 World Series.
Triangle North was created by county governments in Franklin, Granville, Vance and Warren counties through a unique tax-sharing arrangement. The network of parks offers sites large and small that are suitable for companies in a range of industries, from life sciences and technology research and development and manufacturing to logistics and distribution.
Companies who locate and create jobs in any Triangle North park receive a tax credit of $12,500 per job, the highest level (Tier 1) of financial assistance available in North Carolina. This provides highly affordable access for companies who want to locate or expand in the Research Triangle Region, one of the strongest and most diverse economies in the country.
The four Triangle North parks are:
- Triangle North Franklin, a 252-acre park across from Triangle North Executive Airport (formerly Franklin County Regional Airport) in Franklin County, with a newly completed building offering 30,000 square feet for light industrial use and 3,900 square feet of office space.
- Triangle North Granville, a 527-acre park in Granville County located along Interstate 85, spanning exits 206 and 209 and adjacent to Vance-Granville Community College, with more than three miles of interstate frontage.
- Triangle North Vance, a 422-acre site off of I-85 at exit 209 in Vance County, located across the interstate from the community college.
- Triangle North Warren, a mega-site in Warren County with 1,000 acres, one of the largest sites in the state certified as “development-ready,” located off of I-85 and U.S. Highway 1/158 in Manson.