2024 Annual Comprehensive Report

Phase 1 of the mixed-use site includes 150 apartment units, 240,000 square feet of office space, four restaurants, 40 artist studios and open outdoor spaces for live music and movies. The $40 million, 130,000-square-foot Phase 2 includes 33 apartments, 60,000 square feet of office space and 10,000 square feet of retail and restaurant space. The extensive historic restoration project will also connect the campus to downtown Greensboro via the City’s greenway trails. Another nearby historic mill, Proximity Printworks Mill , was purchased in 2018 and completed in 2023 as a mixed-use development on 18 acres of land just east of Revolution Mill. Proximity Printworks Mill, now on the National Register of Historic Places, originally served as the first textile printer in the South. A Wisconsin company specializing in urban redevelopment has used federal historic tax credits and invested an estimated $54 million to convert the mill into a mixed-use development with over 200 apartments, retail and restaurant spaces and a climate-controlled storage business. Printworks Mill has completed construction on all of the apartments and all units are fully occupied. In February 2020, Publix Super Markets broke ground on the first phase of a new 1.8 million-square-foot distribution center in the City, making it the largest distribution center in the area. In October 2020, Publix announced a 1.2 million-square-foot dry goods expansion, increasing the total facility to 3.0 million-square-feet. By November 2022, the facility was open and fully operational. To secure the estimated $400 million investment, the NC State Economic Investment Committee approved a $15.9 million incentive package requiring a $300 million investment and 1,000 new jobs created by 2025. In addition, the County has committed to an estimated $17 million in property tax incentives, and the City Council has approved up to $20 million in similar incentives. The distribution center will produce an estimated incremental increase in tax revenue of $19.9 million over 10 years and have an economic impact of $1.38 billion over 12 years. Publix is a privately held, employee-owned company with operations throughout the southeastern United States, including nine distribution centers. Publix has been recognized on the overall list of Fortune’s World’s Most Admired Companies list for 2024 and has been named on the overall list annually since 1996. Between March and June 2024, Cone Health completed three land purchases totally $37.75 million for approximately 68.4 acres across Greensboro. One purchase with approximately 31.5 acres includes plans to build of a health and wellness complex. The other two purchases were strategically acquired, including land in underserved areas. Since 2018, Cone Health has invested more than $95.5 to improve its operating suites, emergency medical services, heart care, interventional radiology and breast care facilities. In March 2024, the 37,000 square foot heart and vascular center began operations. These projects continue to ensure long–term sustainability and transform health care services for the community and add to the substantial investment Cone Health made in its North Tower project, which opened in June 2013. In 2024, Moses H. Cone Memorial Hospital tied for sixth best hospital out of 19 top hospitals in North Carolina by U.S. News and World Report. In 2023, Cone Health was recognized for the sixth consecutive year by Forbes on its list of America’s Best-in State Employers. Forbes surveyed 70,000 employees from all 50 states who work at companies with at least 500 employees. The anonymous assessments included working conditions, diversity, salary, potential for development and company image. Cone Health is the City’s largest employer, with over 13,000 employees.

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