Golden LEAF Board of Directors awards $50 million to support North Carolina’s first car manufacturer

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Golden LEAF Board of Directors awards $50 million to support North Carolina’s first car manufacturer

Published: Tuesday, April 19th, 2022 @ 6:28 pm
By: Stan Deatherage ( More Entries )

News Release:

    Recently, Governor Roy Cooper announced that North Carolina has landed its first car manufacturer, VinFast, a Vietnamese electric car manufacturer. The new facility will be located at Triangle Innovation Point in Chatham County and include at least 7,500 new jobs and private capital investment of at least $4 billion.

    On Tuesday, March 29, the Golden LEAF Board of Directors voted to award $50 million to the City of Sanford for the construction of public water and sewer infrastructure to support the location of VinFast.

    "The Golden LEAF Board made our first award of $4 million to support the Moncure Megasite, now Triangle Innovation Point, in 2016, planting a flag that one day North Carolina would attract a project of this magnitude to this site," said Golden LEAF Board of Directors Chair Don Flow. "We are proud to be part of the public infrastructure improvements that will enable significant job creation and capital investment. This announcement is a win for the entire state."

    The $4 million Golden LEAF Major Site Development Initiative awarded to the City of Sanford for the Moncure Megasite, now Triangle Innovation Point, provided needed infrastructure to increase site competitiveness and reduce the time needed for site development to attract major projects with substantial job creation and private capital investment.

    "Golden LEAF is dedicated to the long-term economic advancement of North Carolina," said Golden LEAF President, Chief Executive Officer Scott T. Hamilton. "Golden LEAF is pleased to support such a transformative project for rural Chatham County, the surrounding region, and the state, that will have a tremendous long-term economic impact. The Golden LEAF Board of Directors made this extraordinary award of $50 million to the the City of Sanford to ensure that there would be sufficient water and sewer infrastructure to help support the creation of 7,500 quality jobs."

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