Economic Development Year in Review 2025

NEW CITY AWARDS & OTHER NOTABLE ECONOMIC DEVELOPMENT WINS FOR GUILFORD

JANUARY 2025

APRIL 2025

JULY 2025

Contec IAS Selects Greensboro for North American Sales & Engineering Office Contec Industrial Automation Solutions (IAS), a Belgian engineering firm specializing in industrial automation, selected Greensboro for a new sales and engineering office, bringing 24 high-skilled jobs. Contec serves major sectors, including food and beverage, petrochemicals, tank terminals, and consumer goods, by designing and integrating automated systems, upgrading equipment, and optimizing plant performance. The company is investing $250,000 in its Greensboro office at 200 Centreport Dr. Founded in 1986, Contec employs about 250 people and operates in Belgium, France, Romania, Poland, the United Kingdom, and the US.

Allegacy Federal Credit Union Expands Greensboro Operations Allegacy Federal Credit Union, one of North Carolina’s largest credit unions, with 178,000 members and $2.3 billion in assets, is expanding its operations with a new member care center in Greensboro. Located at 7900 McCloud Rd., the leased 62,000-square-foot facility will create 50 new jobs. Founded in 1967 to serve R.J. Reynolds employees, Allegacy now partners with more than 700 companies and offers a full range of financial services, including consumer banking, business banking, insurance, and financial planning.

Integrated Power Services Opens Business Development Center in Greensboro Integrated Power Services (IPS), a leading provider of service, engineering, and remanufacturing for electrical, mechanical, and power management systems, announced the opening of a new business development center at Revolution Mill in Greensboro. The center will serve as a sales-focused extension of IPS’s Greenville, SC, headquarters and is funded for 60 new positions over three years with average starting salaries of $60,000 annually, plus commission. IPS supports critical infrastructure across industries such as manufacturing, agriculture, mining, health care, power generation, renewable energy, and defense.

ROAD TO 10,000: GREENSBORO ADVANCES AMBITIOUS HOUSING STRATEGY

CITY ECONOMIC DEVELOPMENT PROJECTS ANNOUNCED IN 2025

City Manager Nathaniel ‘Trey’ Davis launched the Road to 10,000 initiative to address rapid growth and housing demand by creating 10,000 new homes for all income levels over the next five years. The effort aligns with the City’s restructured Housing & Neighborhood Development Department, which focuses on attainable housing and community engagement. Key actions include financing affordable rental units, assessing property and development opportunities, and improving transportation and transit-oriented development. The initiative reached nearly 25% of the goal after nine months.

Company JetZero* Contec IAS

Investment New Jobs $4.724B 14,560

$0.25M 24 — 60 — 50 $13.5M 131

Integrated Power Services Allegacy Federal Credit Union

Hoffman & Hoffman*

$4.738B 14,825 *incentivized by the City of Greensboro

Total