Economic Development

| ECONOMIC DEVELOPMENT | Group targets transportation funding

Regional organizations are taking part in an NC Chamber-led coalition to update the state’s transportation funding methods.

The chamber initiative entitled “Destination 2030: The Road to a Stronger Transportation Future” has brought together more than 100 businesses and organizations to back changes to the way the state funds its transportation projects. The coalition includes several Wilmington-area organizations, including the Wilmington Chamber of Commerce, N.C. Ports, Wilmington International Airport and Andrew Consulting Engineers P.C.

Natalie English, president and CEO of the Wilmington chamber, said the region’s transportation network plays a significant role in economic development. It has been a top priority of the local chamber for years, she said.

“The Destination 2030 effort is about state policy and state decision-making. Having the Wilmington chamber and business leadership at the table in the Destination 2030 coalition shows the state, whether it’s the N.C. DOT or the legislature, that transportation infrastructure matters a great deal in Southeastern North Carolina,” English said.

The N.C. Department of Transportation (NCDOT) has experienced funding issues and has changed some of its project plans across the state, some of them in Southeastern North Carolina. The long-discussed Cape Fear Crossing project, which looked at another bridge across the Cape Fear River to link Brunswick and New Hanover counties, was shelved. And other projects such as the Hampstead Bypass had a change in timeline.

The recent unsolicited proposal by a developer to build a toll bridge to replace the aging Cape Fear Memorial Bridge was also being discussed among regional transportation officials. NCDOT officials brought the idea to the Wilmington Urban Area Metropolitan Planning Organization (WMPO) to see if there was support to explore the bridge option, as the traditional means of funding transportation projects would not likely fund construction within the next 10 years.

That concept was ultimately voted down by the WMPO board in a 7-5 vote.

English said there needs to be continued discussions on other ways to fund a replacement bridge.

The state’s primary transportation revenue source is the motor fuels tax, which NC Chamber officials and many across the state believe will not be enough to fund statewide projects in the future.

Other funding solutions would also help to ensure that the state’s major infrastructure gets the improvements they need, and future projects get funded, English said.

“The Wilmington chamber has had a position on our policy agenda that speaks to the need for continued investment in our transportation infrastructure to ensure we can accommodate the growth in population that we know is coming to our region and to continue to be able to attract investment by businesses that might want to relocate and or expand,” English said.

The Wilmington chamber has been actively involved in the Destination 2030 initiative. For example, English recently took part in a panel discussion about the initiative during a virtual transportation and infrastructure summit in July.

The NC Chamber launched the initiative in 2020 and built a network of businesses and economic development organizations to bring the private sector to the table to advocate for policy changes and solutions for funding transportation infrastructure.

According to the NC Chamber, there are four goals for the coalition: discussing sustainable transportation funding solutions; simplifying transportation policy issues and explaining to the public why modernizing transportation income streams are important; creating a sense of urgency for decision makers to act; and bringing together private-sector leaders to advocate for solutions.

Several transportation research reports have laid out some ideas for funding alternatives, according to the NC Chamber.

A 2020 report, “Modernizing North Carolina’s Infrastructure Through Sustainable and Diversified Revenue Streams,” conducted on behalf of the NC Chamber Foundation by N.C. State University’s Institute for Transportation Research and Education, points to funding alternatives including a road user charge and highway use tax.

Those that join the coalition are not required to support specific policy recommendations that come out of the initiative.

The report also states that, accord-

ing to data from 2015, every $1 billion of transportation investment in the state generates 14,300 jobs, $10.3 billion in wages and $10.8 billion in gross state product. “We want to offer bold solutions,” English said. We want to stand up as a group of business leaders across the state of North Carolina and give our decision-makers, our policymakers CHRISTINA HALEY that support to make bold decisions O’NEAL and changes to solve our transportation challenges.”

PHOTO BY MICHAEL CLINE SPENCER Road woes: Funding issues have led to a change in the timeline for the Hampstead Bypass.

New jobs coming to Brunswick County

Precision Swiss Products Inc. is expected to bring 125 new jobs with the move of its headquarters to Brunswick County, Gov. Roy Cooper announced in late June.

The California-based company will invest more than $9.3 million to locate its headquarters and manufacturing facility to the International Logistics Park shared by Brunswick and Columbus counties, officials said in a news release.

Precision Swiss Products (PSP) is slated to bring operations into the first speculative building now under construction in the industrial park, said Bill Early, executive director of local economic development organization Brunswick Business and Industry Development (Brunswick BID).

PSP is a major producer of small, high-precision parts for the aerospace, medical device and semiconductor industries, officials said.

The spec building, estimated to cost about $8.5 million, is a 150,000-square-foot facility in the industrial park. PSP will open its new headquarters and manufacturing operation in about 60,000 square feet of the space, Early said.

PSP’s relocation will be funded partially by the state’s Job Development Investment Grant based on investment and job creation that could potentially reimburse the company up to $1.8 million over 10 years, stated the release.

The new jobs include highly skilled machinists, shipping and receiving workers, quality control personnel, executive and administrative staff, stated the release.

Officials said the average annual salary for all new positions is just over $54,000, “creating an annual payroll impact of more than $6.7 million per year.”