Iredell EDC Hosts Annual Meeting and Launches 4-Year Ec

Iredell County Economic Development Corporation (Iredell EDC) welcomed more than 250 business leaders, elected officials, and community partners to their 2024 Annual Meeting, presented by Lowe’s Companies, on September 26 at the Statesville Civic Center.

The event marked the launch of an investor campaign and four-year economic development strategy, intended to further elevate Iredell County and its municipalities as a competitive location in the Charlotte region and North Carolina.

“Six years ago we made the decision to come together as one countywide organization to combine efforts and work together to create opportunities for Iredell County and our local municipalities,” stated Jeff Cernuto, president of Princeton Communities and Iredell EDC vice chair. “The results have been significant with strong interest and activity across the county, resulting in $2 billion in new investment, the creation of 5,500 jobs, and a pipeline of 14.8 million square feet of industrial development.”

Jenn Bosser, Iredell EDC president & CEO, shared highlights on the key pillars of focus for the EDC and growth in Iredell County. Some notable growth highlights over the past four years include:

♦ 7 percent growth in population across the county, from 186,000 to 199,000 people in 2024.
♦ 34 percent increase in the labor force, from 84,460 to 113,788.
♦ 28 percent increase in wage growth, currently at $63,674, the sixth highest average wage in North Carolina.
♦ 25 percent growth in industrial square footage.
♦ 59 percent growth in property tax revenue, from $24 million to $36 million in Iredell County.
♦ 56 percent growth in sales tax revenue, from $10 million to $16 million.
♦ Growth in all the County’s top industry sectors, with manufacturing leading our county with total employment of 12,000.

Iredell EDC’s four-year plan focuses on attracting target industries, existing industry and retention, product development, workforce development through Iredell Ready, marketing and research, and community collaboration.

Iredell EDC’s goals include the creation of 2,500 jobs, $500 million in new investment, identify 1,000 acres for new commercial/industrial product, and an increase in credentials and post-secondary degrees among residents. As part of the campaign, the EDC is introducing a new investor level for companies interested in engaging with its workforce initiative, Iredell Ready, to build pathways to better futures for students and residents with Iredell industries. Investors who participate at the Partner Level or Above ($3,500) can opt to support Iredell Ready and participate in the advisory council and other initiatives. The Iredell EDC’s overall campaign has a goal of raising $4.5 million over four years from both public and private sector investors.

Attendees had an opportunity to hear from two company executives:

♦ Ingo Rutenburg, CEO of DEHN, USA, a company based in Neumarkt, Germany, provided key factors that led to their decision in early 2024 to invest $38 million and create 238 jobs in Mooresville to build their U.S. Headquarters.

♦ Rick Stapleton, president of Cheney Brothers, a leading food distributor, shared insights on their experience in the market and the region as well as the growth that led to their decision to add over 240,000 square feet to their Statesville facility within the last decade.

Vice Chair Jeff Cernuto recognized outgoing board members James Mallory, former Iredell County Commissioner chair; Paul Cook, First Citizens Bank; Steve Daily, NGK Ceramics (retired); and Marian Steele Clark, J.C. Steele & Sons. He also welcomed new board members, Tracey Jerome, town manager for Mooresville; Mooresville Commissioner Lisa Qualls; Zach Gordon, vice president of L. Gordon Iron & Metal; LaQuisha Parks, vice president for EnergyUnited; Mary Katherine Harbin, vice president for Maymead, Tiffany Webber, partner for Thomas & Webber; and Grant Miller, executive vice president for Colliers International.