News Story
Posted by Transylvania County on

Success is often a result of solid partnership and the latest news that Transylvania County and the Transylvania Economic Alliance will be receiving $1.5 million in Golden LEAF Foundation funding for the Sylvan Valley Industrial Building Phase 2 construction. The funding was announced this week as part of Golden LEAF’s Community-Based Grants Initiative.

“Our community is reinforcing the idea that collaboration produces results,” shared Jason Chappell, Chair of the Transylvania County Board of Commissioners. “We have no doubt that the SVIC Phase II will be leased quickly bringing more jobs and tax base. The next question is: where is the next piece of property where we can replicate this success?”

The expansion of the Sylvan Valley Industrial Center (SVIC) continues to demonstrate the effectiveness of a public-private partnership between local government, economic development entities and private industry to enable job creation and cultivate new tax base. With zero “shovel-ready” industrial sites and a 0% industrial vacancy rate, Phase II of the SVIC significantly strengthens Transylvania County’s competitive position for economic development success.

“I don’t think the average resident realizes the demand for industrial space in Transylvania County,” said Amber Webb, Chair of Transylvania Economic Alliance Board of Directors. “Our community is viewed as a premier destination for a variety of types of industries that view our culture and quality of life as irreplaceable part of their brand, continued Webb, but we have no industrial property available -- this helps to solve that problem.”

"This is the second time the Golden LEAF Board of Directors has supported the Sylvan Valley Industrial Project,” said Golden LEAF President, Chief Executive Officer Scott T. Hamilton. “Golden LEAF awarded $1 million in funding for the first phase of the project under the Community-Based Grants Initiative in 2016. Phase 1 provided the community an innovative approach to available shell industrial space that generates lease revenue to invest in future industrial projects. Golden LEAF is pleased to help Transylvania County build on the success of the county-owned space, which will result in the creation of 20 new quality jobs. “The lease revenue from Phase 1 will also be helping fund Phase 2.

The Transylvania Economic Alliance (TEA) works to attract new industries to Transylvania County, and helps existing employers grow and expand their operations in the county. The TEA focuses on companies and industry sectors that are compatible with Transylvania County’s assets, create high-wage employment opportunities, and generate new tax base. The TEA will work closely with its partners to market the SVIC to prospects that will maximize the value of the much-needed real estate.