As we announced earlier this summer, we’re building a new manufacturing facility in North Carolina, in the Nash County area. On Monday, we inched one step closer to this wider company goal as the Nash County Board of Commissioners greenlighted an incentives package to help BuildLabs set up shop in the area.
A quick recap: Our company BuildLabs plans to build a 30,000-square-foot plant, and to sweeten the deal, the county and town are offering a tax break of up to 50% over five years, based on a $12 million investment and the creation of 24 full-time jobs with an average salary of over $60,000.
Susan Phelps, the county’s Economic Development Manager, explained that this deal covers only the first phase of BuildLabs’ plans. Although the company hopes to invest up to $30 million in the future, the initial incentives apply to their $12 million investment in the Nashville Business Center.
BuildLabs, known for its custom home design and manufacturing, has already purchased 5.3 acres in the business park for $134,000 and wrapped up the deal last month, according to Nashville Town Manager Randy Lansing. Now, with the incentives approved, the final step is for town officials to sign off on the site plans. Lansing also mentioned that Punit Chugh, BuildLabs’ co-founder, is aiming to break ground on the project by year’s end.
BuildLabs is a tech-forward construction firm with offices in Long Island, Germany, and India. Their new Nashville facility will focus on innovative construction solutions and aims to produce 150-200 homes and projects each year. The company’s representatives toured the area earlier this year and were impressed by the location's proximity to Raleigh and its easy highway access.
Chugh highlighted that the quality workforce in the Research Triangle area was a major factor in their decision. The region’s growing job market and the booming home construction industry were seen as perfect matches for BuildLabs' high-tech approach to homebuilding.
This project promises to bring new jobs and a cutting-edge manufacturing hub to our community. Stay tuned for more updates as this exciting development unfolds.
Image Credit: Nash CountyEconomic Development via The Enterprise
