The Mitchell County Economic Development Commission, Inc. (MCEDC), a 501(c)(3) organization, has entered into a five-year option agreement with Halltown Properties to pursue the development of Mitchell County’s first-ever business park. The 90-acre tract, located in the Halltown community, is accessible via Halltown Road and Carters Ridge Road.
If purchased, the agreed-upon price for the property is $40,000 per acre, totaling $3.6 million. The site is already equipped with essential infrastructure, including water, sewer, fiber, and natural gas, making it highly suitable for industrial and business development.
A joint site study published by Sanford Holshouser in December 2021 identified this location as the most promising site in Mitchell County for potential industrial expansion or business recruitment.
Bill Slagle, Executive Director of MCEDC, stated: “There is much work to be done in the coming months to verify the validity of the site. This is a process that could take 12 to 24 months to complete. We are very grateful to the owners of the property for assisting the MCEDC with this bold step for economic development in Mitchell County.”
“I’m excited for the possibilities of this project and believe we are fortunate to have the resources that Bill has assembled to assist Mitchell County with economic development,“ said Chris Gentry, Chairman, Mitchell County Economic Development Commission.
The terms of the option agreement include a one-time earnest payment of $10,000 and a monthly payment of $1,000 until a determination is made regarding the property. All earnest payments will be applied to the purchase price if the property is acquired.
To guide the planning and review process, a dedicated Business Park Committee has been established. This committee will oversee site verification, planning, and potential development efforts to ensure the project aligns with Mitchell County’s long-term economic growth goals.
This initiative represents a significant step forward in strengthening the county’s business infrastructure, attracting new investment, and expanding opportunities for local employment.
About Mitchell County Economic Development Commission (MCEDC, Inc.)
MCEDC, Inc. is a 501(c)(3) nonprofit organization dedicated to promoting economic development, supporting local businesses, and attracting new investment to Mitchell County, North Carolina.
