Thursday, August 16, 2007

Kerr-Tar buys more than 1,000 acres for business hubs

As read in the Triangle Business Journal
- August 1, 2007

" The nonprofit operator of a government group that hopes to spur economic development in the rural Triangle has bought land for three of its business hubs.

Officials for the Kerr-Tar Hub project said its nonprofit operator, the Kerr-Tar Regional Economic Development Corp., closed this week on 250 acres in Franklin County, 510 acres in Granville County and 350 acres in Warren County. The group is also in negotiations to buy 500 acres in Vance County.

Kerr-Tar is a partnership between the governments of the four counties.
Businesses that develop in any of the Kerr-Tar hubs will be eligible for Tier 1 tax credits worth $12,500 per job created.

The Kerr-Tar partnership began in 2003 as a result of a study at the University of North Carolina at Chapel Hill and was formalized in 2005. . "

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