251006 Joint Meeting on Project Golden Wind
Special Joint Meeting with the Asheboro City Council - October 6, 2025
The Randolph County Board of Commissioners met in special session at 5:00 p.m. in the 1909
Randolph County Historic Courthouse Meeting Room, 145 Worth Street, Asheboro, NC. Vice-
Chairman Kenny Kidd, Commissioner David Allen, Commissioner Hope Haywood, and
Commissioner Lester Rivenbark were present. Chairman Darrell Frye was absent. Also present
were County Manager Zeb Holden, Assistant County Manager/Finance Officer Will Massie,
Assistant County Manager William Johnson, County Attorney Ben Morgan, and Clerk to the
Board Dana Crisco. Present for the City of Asheboro were Mayor David Smith, Council Members
Clark Bell, Eddie Burks, Kelly Heath, Bill McCaskill, Charles Swiers, and Joey Trogdon. Also
present for the City of Asheboro were City Manager Donald Duncan, Jr., Assistant City Manager
Trevor Nutall, Attorney Jeff Sugg and Clerk to the Board Holly Doerr.
Project Golden Wind
Crystal Gettys, Randolph County Economic Development Corp. Business Recruitment
Director, stated Project Golden Wind has identified two buildings in Asheboro to potentially lease
as a location for establishment of a structural assembly facility for the Specialized Volumetric
Modular Industry serving major markets of pharmaceutical, data, semiconductor and others. The
company is also considering other facilities in South Carolina and Virgina that could serve their
growing customer base although their HQ will remain the Piedmont-Triad. This is an expansion
and not a relocation.
The identified location would require annexation into Asheboro to continue receiving public
utilities, this will also upon approval make them eligible for city incentives along with county
incentives.
Golden Wind estimates a capital investment of $20 million with the creation of 300 new jobs
paying an average of $55,133 annually.
Contingent on local incentive approvals, Project Golden Wind’s estimated capital investment
of $20 million in building improvements, and machinery and equipment qualify them for a
performance-based cash grant from Randolph County and the City of Asheboro. Landowner
petitioning to annex into the city limits will be a project requirement and condition to City incentive
approvals.
Local:
County Incentives: $209,000 over five years
City Incentives: $297,000 over five years
The EDC is proposing a total local incentive package of approximately $506,000 over a five-
year period based on the estimated investment. This proposed incentive is inclusive of matching
requirements for state incentive programs.
In addition to local incentives, Golden Wind currently qualifies for state incentive grants
through the North Carolina Department of Commerce to include:
State:
JDIG - $3,433,000
10/6/25
Rural Building Reuse Grant - $500,000
The EDC believes that Golden Wind will be a tremendous asset to the community and will
increase the value of the property, generate significant investment in real and personal property,
and provide 300 new job opportunities. Therefore, the EDC requests contingent upon State grant
application approvals, that the City and County approve the Resolution offering approximately
$506,000 in cash grants over a five-year period to be split between the City and County, and that
the City approves being the applicant on behalf of the company for the Building Reuse Grant,
which requires a match that will be satisfied in the local incentive offer.
Public Hearing
Vice-Chairman Kidd opened the Public Hearing for the County and closed it as no one wished
to speak.
The Asheboro City Council voted to adopt the Resolution Authorizing the City of Asheboro to
Enter into an Economic Development Incentives Contract
On motion of Rivenbark, seconded by Haywood, the Board voted 4-0 to adopt the Resolution
Authorizing the County of Randolph to Enter into an Economic Development Incentives Contract,
as follows:
RESOLUTION AUTHORIZING THE COUNTY OF RANDOLPH TO ENTER INTO
AN ECONOMIC DEVELOPMENT INCENTIVES CONTRACT
WHEREAS, Section 158-7.1 of the North Carolina General Statutes authorizes a
county to undertake an economic development project by extending assistance to a
company in order to cause the company to locate or expand its operations within the
county; and
WHEREAS, the Board of Commissioners of Randolph County has held a public
hearing to consider whether to participate in an economic development project that will
result in the County of Randolph (the “County”), the City of Asheboro (the “City”), and
an unnamed company (the “Company”) approving an economic development incentives
package whereby the County contributes up to Two Hundred and Nine Thousand Dollars
($209,000.00) and the City contributes up to Two Hundred and Ninety-Seven Thousand
Dollars ($297,000.00) for a total expenditure of up to Five Hundred and Six Thousand
Dollars ($506,000.00) to the Company to offset the costs of the Company’s expansion in
Randolph County, North Carolina; and
WHEREAS, upon the completion by the Company of this expansion project, the
Company will have generated new value/investment in building improvement, personal
property, and equipment associated with the project in an amount equal to or in excess
of Twenty Million Dollars ($20,000,000.00) and created a minimum three hundred
(300) new full-time jobs; and
WHEREAS, this economic development project will stimulate and stabilize the local
economy, promote business in the County and City, and result in the creation of a
significant number of jobs; and
WHEREAS, the County has in its General Fund available revenues sufficient to fund
this economic development project.
10/6/25
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of
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Randolph County, this 6 day of October, 2025, as follows:
Section 1. The County is authorized to expend up to Two Hundred Nine
Thousand Dollars ($209,000.00) of County funds for this economic development
project.
Section 2. The appropriation outlined in Section 1 above will be paid to or on
behalf of the Company pursuant to a performance-based incentive contract, said
contract to be inclusive of the local match requirements for any and all grant funding
awarded to the project. In addition to the standard terms found in contracts that the
County routinely executes in the ordinary course of business, the economic
development incentives contract entered into by and between the County, the City,
and the Company must contain the following essential terms and conditions:
a. The total payment made to or on behalf of the Company under this contract
shall not exceed Five Hundred Six Thousand Dollars ($506,000.00).
b. Up to Two Hundred Nine Thousand Dollars ($209,000.00) of the total contract
amount will be paid by the County, and up to Two Hundred Ninety-Seven
Thousand Dollars ($297,000.00) of the total contract amount will be paid by
the City.
c. Payments made pursuant to the contract shall not begin until the Company has
met certain performance requirements. These performance requirements
include, but are not limited to, the following:
i. The Company must deliver to the County and the City written
certification that the actual value of new investment by the Company in
building improvements, personal property and equipment in connection
with this project equals or exceeds Twenty Million Dollars
($20,000,000.00); and
ii. The Company must provide Employment Security Reports to the County
and the City evidencing the creation of three hundred (300) full-time
jobs with an average annual wage of Fifty-Five Thousand One Hundred
Thirty-Three Dollars ($55,133.00).
The contract amount will be paid in equal installments over a period of five (5)
years to coincide with the Company’s satisfactory completion of the above-
referenced performance requirements.
d. The contract must provide the County and the City with a means of recouping
a portion of the contract amount if the Company’s facility, as expanded, does
not remain in full operation, maintaining the newly-created jobs referenced
above, for a period of five (5) years immediately following the date on which
the final installment of the contract amount is paid to the Company.
e. If the Company does not remain in full operation during this five- (5) year
period, a portion of the incentive money must be returned. The amount to be
returned shall decrease on a pro-rated amount for each year of said period that
the company remains in full operation. Any amounts returned by the Company
in this manner shall be divided between the County and the City on a prorated
basis, with the County receiving 41.3% of any monies returned and the City
receiving 58.7% of any monies returned.
Section 3. The Vice-Chairman of the Randolph County Board of Commissioners
is hereby authorized to execute on behalf of the County of Randolph a contract
10/6/25
drafted in accordance with Section 2 of this resolution and any other documents
necessary for the implementation of this economic development project.
Adjournment
At 5:12 p.m., on motion of Allen, seconded by Rivenbark, the Board voted 4-0 to adjourn.
________________________________ ________________________________
Kenny Kidd, Vice-Chairman David Allen
________________________________ _________________________________
Hope Haywood Lester Rivenbark
_______________________________
Dana Crisco, Clerk to the Board
10/6/25