Randolph EDC recaps 2013 bright spots

June 24, 2014

RANDOLPH COUNTY — Randolph County’s economy improved during 2013, as unemployment fell and a variety of businesses announced plans to create jobs.

That’s the assessment of the county’s Economic Development Corp. in its 2013 annual report. It notes positive business trends in traditional industries like furniture and textiles, as well as growth in new-economy firms.
During the year, companies announced more than $46,555,000 in new and expanded industrial investment involving the creation of 343 new jobs, according to the EDC.

A total of 16 companies reported new job creation and new investment in communities across Randolph.
EDC Chairman Robert Shackleford, who is president of Randolph Community College, said 2013 was a successful year for economic development in part because of the progress made in preparing residents for jobs in advanced manufacturing and high-tech fields.

“Economic development success is directly linked to a highly skilled work force ready for employment,” he said. “Our county is blessed with two outstanding assets that collaborate and support each other in delivering economic growth and highly qualified workers — the Randolph County EDC and Randolph Community College.”
Some of the growth occurred in target industry sectors located just outside High Point.

These included expansions by Novamelt Americas and Jowat Corp., two adhesives manufacturers in Trinity. Ennis-Flint, which manufactures and distributes specialized paints and coatings, also started work on a new location in Trinity.

In addition, Trinity Furniture completed a 24,000-square-foot expansion of its manufacturing plant on Kennedy Road.

Asheboro firms Kayser Roth and Sapona Manufacturing expanded their apparel and textile operations, and another furniture company, N.C. Upholstery, announced expansion plans.

If all of the jobs announced in 2013 actually are created, it should generate $11 million in annual income through direct employment, according to EDC projections.

If completed, the industrial investment announced during the year will generate more than $283,985 in new tax revenues annually to the county. The projects will impact more than 1 million square feet of real estate and will entail more than $500 million in sewer infrastructure grants and building renovations.

The county’s unemployment rate at the end of the year was 6.7 percent, down from 9 percent at the end of 2012.

Source: High Point Enterprise