Cabarrus EDC Releases '14-'15 Annual ReportSep 18, 2015 12:20PM ● By Jason Huddle
By: Jason Huddle
According to the Cabarrus Economic Development Corporation (CEDC), things haven't looked this good in Cabarrus County for quite some time. When Pillowtex closed in 2003 and then the likes of Philip Morris, CTC and First Charter went away a few years later, some wondered if the Cabarrus Region would ever see the growth it had in those days. Now, with the CEDC's latest annual report for the 2014-'15 fiscal year, it appears Cabarrus has once again gained its footing.
This past year, the CEDC says it focused on product development, business retention and expansion, as well as recruitment. With a total budget of over $558,000 dollars, including a little under $400 thousand in public funding, the CEDC knew it was important to show the public results after having to fight to regain public funding when the Cabarrus County Commission completely cut their budget to $0 in 2014.
When funding was restored mid-year, this enabled the CEDC to focus on it's objectives and actually create a suprplus of over $27,000 dollars for the year.
According to the report, 11 new projects were located in Cabarrus County, 4,036 new jobs were created and over $260 million dollars were invested into the region. With, Alevo, FedEx Smartpost and Gordon Food Service topping those lists, it appears industry and jobs are returning to the county.
And the quest for more projects and recruitments continues. During the 2014-2015 fiscal year there were more than 80 requests for information (RFI) and there are presently over 30 projects the CEDC is working to turn into more jobs and investment for the county. That job has no end.
For more information on the CEDC and their mission, you may contact them at 704-782-4000, or visit www.cabarrusedc.com.
Photo/Rendering: Courtesy, Cabarrus Economic Development