Our take: In the northeast corner of Randolph County near Greensboro, this megasaite has successfully attracted Toyota for a battery plant and Ross stores for a distribution center. Demand for housing and retail is increasing in nearby communities around Asheboro, Siler City, and Burlington.
The Greensboro-Randolph Megasite, located in Randolph County, North Carolina, is a strategically developed industrial area designed to attract large-scale manufacturing investments. Its development has significantly impacted the local economy and surrounding communities.
Development History:
- 2012: Local leaders in Randolph County identified the need for a large, ready-to-develop industrial site to attract major manufacturers. The Greensboro-Randolph Megasite was conceived to meet this demand.
- 2015: The Greensboro-Randolph Megasite Foundation was established to oversee the development and marketing of the site. Local governments and economic development organizations collaborated to acquire and prepare the land, investing approximately $10 million to purchase the megasite land. WFMY News 2
- 2018: The site was a finalist for the Mazda-Toyota manufacturing complex but ultimately was not selected. Despite this setback, efforts continued to market the site to potential investors. Site Selection
Impact on Surrounding Areas:
The development of the Greensboro-Randolph Megasite has significantly impacted several cities and counties in the region:
- Randolph County: As the host county, Randolph has experienced substantial job creation and economic activity.
- City of Greensboro: Located nearby, Greensboro has benefited from job opportunities and business expansion due to its proximity to the megasite.
- Neighboring Counties: Counties such as Guilford and Alamance have also seen economic benefits due to their proximity to the megasite.
Company Announcements and Agreements:
- Toyota Motor North America (2021): In December 2021, Toyota announced plans to invest $1.29 billion to establish Toyota Battery Manufacturing, North Carolina (TBMNC) at the Greensboro-Randolph Megasite. The facility aims to create at least 1,750 jobs and produce batteries for hybrid electric vehicles, with plans to produce batteries for battery electric vehicles long term. North Carolina Governor
- Ross Stores Inc. (2024): In May 2024, Ross Stores announced plans to build a new distribution center in Randleman, North Carolina, investing $450 million and generating 850 jobs. The facility will support operations from 2027-2031 and will offer warehousing, fulfillment, and packing services. Associated Press
Recent Developments:
- Toyota’s Additional Investment (2023): In October 2023, Toyota announced an additional investment of nearly $8 billion at the Greensboro-Randolph Megasite, bringing the total investment to approximately $13.9 billion and job creation to more than 5,000. This expansion supports Toyota’s commitment to electrification and carbon reduction. Randolph Hub
The strategic development of the Greensboro-Randolph Megasite underscores North Carolina’s commitment to fostering economic growth through industrial expansion. The site’s readiness and significant investments by companies like Toyota and Ross Stores are set to transform the economic landscape of Randolph County and its neighboring regions.
Phil is a graduate of the University of Northern Colorado and has been active in the commercial real estate and property management business for over 30 years. He holds the prestigious Certified Property Manager designation (CPM) awarded by the Institute of Real Estate Management and is a Licensed Real Estate Broker in North Carolina, South Carolina, Virginia, Tennessee, and Texas. Phil is a member of the International Council of Shopping Centers (ICSC), Institute of Real Estate Management (IREM) and the National Association of Realtors (NAR). Phil is Broker in Charge of our Winston-Salem office and oversees property management and leasing activities. He also provides advisory services to select buyer and tenant representation clients as well as identifies potential investment and development properties.
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