Economic Development Year in Review 2020-2021

NEW CITY AWARDS

LT Apparel $1.7 Million Economic Development Incentive for a $57.3 million investment in a new distribution facility at 5955 N. Summit Ave. LT Apparel markets and sells children’s apparel and accessories for brands such as French Toast, Carhartt, and Adidas. The project would bring 116 new jobs. The company has not yet announced its location decision.

Double G Properties LLC $80,000 Urban Development Investment Grant for the redevelopment of 531 S. Elm St. Bourbon Bowl opened at the location June 2021, investing $3.6 million and creating the equivalent of 20 jobs. It features six bowling lanes, a restaurant, bar, and large patio.

IN THE NEWS

LAUNCH GREENSBORO ADDS NEW PROGRAM, PARTNERS WITH TRANSFORM GSO

In its seventh year, the Greensboro Chamber of Commerce’s Launch Greensboro program has added LaunchLab Sustain to its business accelerator series. This program is focused on providing education, connections and support to increase revenue and streamline operations for LaunchLab Growth alums. The first cohort included 39 companies. The free LaunchLab programs, for startups and existing businesses,

provide an intensive immersion experience for entrepreneurs willing to work alongside other participants, experienced mentors, and advisors to build their businesses. Launch Greensboro also announced plans to partner with Transform GSO, a co-work space provider, to expand into 30,000 square feet of flex space at the Gateway Center, 620 S. Elm St. All LaunchLab programs are now moving in.

COUNCIL REVISES INCENTIVE PROGRAM In March 2021, City Council approved changes to its policy used to incentivize industry to locate or expand in Greensboro. Highlights include: increased levels of support for more investment and job creation; a $15 minimum wage requirement for all incentivized jobs; incentives for companies that hire within Greensboro’s Impact Zones or through NCWorks Career Centers; and requirements for strategically-located job fairs.