May 05, 2008

Oxford, N.C. – Triangle North Granville broke ground today on infrastructure improvements to serve the business park — one of four in the Triangle North network of parks located in Granville, Franklin, Vance and Warren counties.

Each of the parks offers the highest level of state job tax credits (Tier 1, $12,500 per job) to companies that locate in them — an affordable point of entry for companies that want to locate within the innovation-rich Research Triangle Region of North Carolina.

"The construction will open up 150 acres of land and allow it to be immediately available for purchase and building construction in 2008," said Joe Lyle, development director for Millridge Companies, developer of Triangle North Granville developer. Millridge hosted the groundbreaking ceremony with Kerr-Tar Regional Economic Development Corp., owner and developer of Triangle North, and Granville County officials. Millridge is a Wake Forest-based company specializing in residential and commercial development.

Millridge will soon begin building roads and installing utilities to serve the first phase of the park.

"The entire business park is over 500 acres and runs for three miles along Interstate I-85 with excellent visibility from the highway," said Lyle. "Approximately one mile of roadway will be constructed along with a sewer pump station designed to handle the park as well as surrounding property in the first phase.

"When fully complete the Triangle North Granville will accommodate more than 1.6 million square feet of building construction and could provide more than 5,000 jobs for the region," said Lyle.

For more information on Triangle North, visit its www.trianglenorthnc.org or contact Lyle at (919) 556-5418 or jjl@millridgeco.com.