N.C. Railroad Co. closes on $8 million of land at Greensboro megasite
The North Carolina Railroad Company has acquired 630 acres at the Greensboro-Randolph Mega Site for $8 million, bolstering the project aimed at attracting a large manufacturer to the Triad region.
“The project is going according to plan and we look forward to marketing the site to a major manufacturer, along with our partners,” President Scott Saylor said in a telephone interview. Plans call for the Raleigh-based company to buy another 245 acres at the site. Promoting economic development is a key mission for the railroad company, which operates along a 317-mile corridor between Morehead City and Raleigh.
Area officials have worked for several years to prepare the site in Randolph County to be marketable to an expansion-minded automaker or some other major employer. The goal is to finally win a major relocation after BMW, Mercedes-Benz and other companies passed over North Carolina in favor of sites in states that offered more lucrative incentive packages. The site is about 18 miles southeast of downtown Greensboro.
Officials in three other areas in North Carolina also are assembling land for a megasite, including the Chatham-Siler Advanced Manufacturing Site, which is about 18 miles south of the Randolph location. In April, Chatham County officials agreed on options that would prompt it to spend as much as $58 million to buy land for that megasite if a manufacturer commits. Greensboro businessmen D.H. Griffin and Tim Booras now own the land, and the options run through mid-2017, according to the Triad Business Journal.