Letters of Intent

The KTREDC has Letters of Intent, Contracts or other documents in place to control all or most of two Hub sites (Granville and Warren Counties). Board members negotiating with the Franklin and Vance County site owners report that agreements are imminent.

Granville County Land Development Agreement

The Granville County site is entirely owned by a private developer who is dedicated to the principles of the Hub. Granville Properties, Inc. has purchased the land and has executed a detailed land development agreement including transfer of properties with the KTREDC.

Master Plans

The KTREDC has engaged O’Brien Atkins & Associates, a leading engineering and planning firm in the area, to develop a master plan for all of the sites. Agreement has also been reached with Granville Properties, Inc. to also use O’Brien Atkins so that a coordinated master planning process can proceed.

501-c-3 Status

The Kerr-Tar Regional Economic Development Corporation has formally received its designation by the Internal Revenue Service as a 501-C-3 nonprofit entity.

Design Grants

Each of the four Hub sites has been awarded a $400,000 Grant to design and construct attractive and marketable entrances to its site. We are also moving ahead with several other grant opportunities that will provide infrastructure and business supports and enhancements. It is also strongly hoped that federal appropriations being introduced by Senator Burr can be used to enhance and accelerate those activities.

Attracting New Businesses

With the assistance of prominent regional marketing professionals, the Hub Board is proceeding with development of a marketing plan to attract businesses to the Hub. Even prior to completion of that plan, several companies have toured Hub sites and have expressed an interest in relocation to the Hub.

Private Fund Raising

The KTREDC has secured the services of Catalyst Resources to conduct an assessment of the feasibility of a private-sector fund-raising drive in the Hub area. If the assessment is positive, the funds raised through the drive will be dedicated to expanding the marketing strategy and attracting companies more quickly into the region. If you are contacted by Catalyst Resources, please cooperate in the assessment process.

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