Duke Energy selects new potential 175-acre industrial park in Randleman for site program
Randolph County was among the first to be selected for Duke Energy's Site Readiness Program in 2005, participating several times, leading to the current Randleman project. Duke Energy has selected a new potential park in Randleman, located at an interchange on I-74 for business and infrastructure development.
Duke Energy will provide a $10,000 grant which will help cover the cost of additional steps such as site selection consultation and mapping, which will be conducted on the 175-acre site.
The program will fund a water and sewer feasibility study under the guidance of the Randolph County Economic Development Corporation in partnership with the City of Randleman and the county to show potential positive results for the county.
According to John Geib, director of economic development, Duke Energy selects sites with promising industrial development qualities, typically determined by site size, utility infrastructure, access to transportation, and the reputation of the local economic development organization.
Site readiness solicitations are sent to all N.C. Duke Energy-served counties every February to select which sites are most appropriate for the program.
However, Geib is unsure of the site's timeline since some take a while to gain traction, while other sites are purchased and developed quickly.
"One thing is certain when a company chooses a site for a new investment one of the primary motivators in the selection is managing risk," Geib said. "Sites that have had preparatory work done have mitigated some of the risks/unknowns associated with that site’s development. Consequently, those sites enjoy a great development advantage over other tracts that have had little preparatory work done."
Geib believes the development's success will be determined by what the county decides to do with the information from the Duke study in late June. "Duke Energy fully anticipates that the County’s follow-up will be robust and that site preparation will continue following the Site Readiness Program’s completion."
Economic developers in the county have faith that with a little bit of luck, the site will be purchased by a large industrial company driving employment and capital investment.