May 6—HIGH POINT — The city plans to purchase a former industrial property and redevelop it into a "small-scale manufacturing" hub for southwest High Point.
The City Council has authorized the purchase of 300 Oak St., a former Harriss & Covington hosiery plant and a current furniture showroom, along with a vacant 1.3-acre lot across the street, for $3 million.
The city is seeking a federal grant to fund renovations to the property, which is composed of 64,000 square feet of building space, as part of an $8.5 million project.
The goal is to establish a "small-scale manufacturing" headquarters in southwest High Point that would provide "equitable economic opportunity for residents through entrepreneurship, business scaling and workforce training," according to the city.
The hub would provide programming to help residents, especially minority and women-owned business enterprises and BIPOCs (Black, Indigenous and people of color) start and grow businesses, according to the city.
The concept is based on a city-led strategy to draw more small businesses that produce things to the old industrial areas that once housed furniture and textile plants in southwest High Point.
"Supporting small-scale manufacturing in the southwest and ultimately helping MWBEs to scale while connecting those businesses to needed resources invites people to be a part of the momentum in High Point, Guilford County and the Carolina Core," said Sandy Dunbeck, director of the High Point Economic Development Corp.
The site is along the corridor of a future greenway that the city plans to fund with a $19.8 million federal grant it was awarded last year.
The Oak Street grant project is one of nine from the Triad focused on "next-generation manufacturing." The region is one of 60 finalists applying for up to $100 million in grants as part of the U.S. Economic Development Administration's "Build Back Better Regional Challenge."
The grants awards, which will come from EDA's American Rescue Plan Act appropriation, will go to 20 to 30 regional coalitions and will be announced in September.
The project description for 300 Oak St. says it will expand opportunities and support for small manufacturing businesses in the southwest part of the city, an area that is one of the region's poorest.
The property will offer low-cost small manufacturing space and its services will include skills training, business coaching, access to financing and MWBE certification.
One of the other Triad projects seeking grant funding is a proposal to expand The Generator at Congdon Yards to southwest High Point.