I can’t help but get the feeling that some recent reports on the local media have portrayed reluctance on the part of the Cabarrus County Board of Commissioners to support the North Carolina Research Campus (NCRC). This may or may not be true for some individuals or factions on the board; but this letter of Chairman Bob Carruth’s that went to local media and other Commissioners is pretty clear about where the Board’s leadership was in supporting the NCRC.
This letter went out August 9, the following day the Board met and voted unanimously to offer material support to Kannapolis’ proposed TIF bonds. Here’s the letter.
August 9, 2006
Dear Fellow Commissioners,
A little over three years ago, we were part of one of the darkest days certainly in the history of our county, if not the entire state. In a few short moments, what had been the economic engine for our community for over 100 years was gone. On top of being the economic engine, it was also the thing that defined this county and this region for three generations of employees, family members, neighbors and friends. I dare to say that there was not a family in Cabarrus County that was not somehow unaffected by the loss of over 3,000 jobs on that hot July afternoon.
In spite of this, our community pulled together and showed once again what we are made of. With the help of the federal and state governments, as well as many private contributions, our local human service agencies, non-profit & civic groups, churches, and other private groups and individuals, ensured that the needs of this community were met in one of its darkest moments.
To end the story there would be a testimony to the perseverance, talent, and dedication of every man, woman, and child in Cabarrus County. But, it doesn’t end there. Cabarrus County, and Kannapolis in particular, could have went down as just another mill town in the Carolina Piedmont that had seen its better days, with a collapsing, overgrown mill at its center. We could have watched, as slowly our communities became nothing more than just another bland, suburban community that is so often repeated across this nation.
But it doesn’t end there. At this moment in time, a little over three years removed from the darkest day in the history of our county, a new day is upon us. Just like no other community in our state had faced the horror we faced in 2003, the opportunity before us now eclipses that dark day many times over. The North Carolina Research Campus has already captured the imagination, and participation of local and state officials, and has begun to draw both national and international attention. Consider the following facts known about this project:
- At least 4 of our public and private universities, to include UNC, NC State, UNC Charlotte, and Duke will establish permanent, satellite campuses at the Center.
- RCCC, our primary vehicle for job-training and adult education in the community, will train our citizens for the new types of jobs that will be created.
- The most complete biotechnology lab in the nation will be located on the campus.
- Mr. Murdoch is putting millions of his personal wealth into the construction of the buildings, which will be privately owned, and therefore a permanent part of our tax base in Kannapolis and Cabarrus County.
- A $100 Million venture fund will be created, to help fuel new business startups for biotech ventures to grow and establish their roots in Cabarrus County.
- It is estimated that as many as 5,000 high paying, professional level jobs would be created by the campus.
- Federal Funds have been contributed to improve the transportation network around the site.
- In total, over $1.5 BILLION is being invested in the site and associated infrastructure improvements.
Given this, stop for a just a moment to contemplate what the effects of these benefits that will be felt by everyone in Cabarrus County:
- Additional wealth and capital that is brought to the community as a result of the project will fuel the demand for community services and amenities, which will lead to greater growth in the second level of businesses that will spring up in our community to meet this demand, thereby creating more jobs and more opportunity for our citizens.
- We will see the growth in our non-residential tax base, which will provide much needed revenue for building new schools and meeting other critical public needs in our community.
- Rather than leaving the county to work everyday, we will see more people coming to Cabarrus to work, and our own citizens will be able work here.
- The county, not just Kannapolis, will become the destination and center of research in this part of the country for health, wellness, and nutrition.
- Our bond rating agencies, when looking at the future projections for the county when setting our bond ratings, will rate us based upon a vibrant project, vs. a piece of dead property that the mill site would be without this investment.
It is tempting to compare this project to other economic development projects we have participated in. Not that these were important and needed investments, but this project is much larger in size, scope, and potential impact for our county. If we do want to compare the potential impact, we should think about where Houston, Oak Ridge, or Redmond was at before NASA, TVA, or Microsoft. All of these communities were totally transformed by the public and private investment in new technologies and new endeavors made them what they are today. Will Kannapolis and Cabarrus County join them? From the investment and excitement that is already building, I really believe so.
So what is our part? We have been asked to partner as well in this project. Right now, there are changes still being made; however, the county is being asked to partner by contributing the tax revenue gained from the investment to help improve the infrastructure in Kannapolis. As of today, this should project to $40 million, which is less than 3% of the total cost of the project. In addition , thanks to the fact that we saw Tax Increment Financing approved by the voters in 2004, we now have the ability to participate in the project, without risk to our existing tax base. Totally from the revenues collected from the project itself, and the guarantees from the developers, we will be able to provide the revenues needed to help to improve the infrastructure and show our desire to be a partner in a new day here in Cabarrus County.
I see our board’s support as critical to show that all parts of community, just like they came together three years ago to meet the needs of our citizens, are also coming together to meet this opportunity head on, and fully embrace it with all the opportunity it will bring to our county and region. I am sure there will be voices, some of which have already started, that are critical of what we are proposing doing to support this project. It is my hope that each of you will use this time as a time to ask questions, clear up misconceptions that may spring forth, and show true leadership to this community by sharing the facts concerning this project. Over the past several years, we have developed a reputation in this community as a board that does not work well together. It is my hope that through this process, we can begin to change that reputation by showing our unified support for this project.
Thank you again for your service to the citizens of Cabarrus County.
Sincerely,
Bob
Robert W. Carruth
Chairman, Cabarrus County BOC
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