2023 Fuquay-Varina Annual Economic Development Report

ECONOMIC DEVELOPMENT

ANNUAL REPORT 2023

FUQUAY-VARINA ECONOMIC DEVELOPMENT

The Town of Fuquay-Varina is one of the most progressive and fastest-growing municipalities in Wake County, North Carolina. The economic development department supports the creation of new jobs and the sustainability of existing businesses in the community. The department collaborates with local, state, and regional partners and stakeholders by encouraging investments in industry and infrastructure that facilitate economic growth and provide a stable tax base in Fuquay-Varina. The department also works with partners to ensure workforce education is aligned with the needs of employers as they seek to attract skilled, qualified, and diverse talent.

LETTER FROM MAYOR BLAKE MASSENGILL

As we turn the page on 2023, excitement is in the air. While many might think of 2023 as a year of construction, planning, and investment, the seeds we sowed are already sprouting. Over $448 million was poured into commercial and residential projects throughout the town, laying the foundation for bustling businesses, diverse housing options, and a thriving community hub. While some of these structures might not be readily visible yet, their arrival is swiftly approaching, ready to welcome residents and businesses alike.

The influx of people drawn to Fuquay-Varina’s charm and advantages further enriches our vibrant tapestry. We’re welcoming individuals and families from all walks of life, contributing to a growing and diverse community where everyone feels welcome and valued. This growth isn’t just numerical; it’s a testament to the unique spirit of Fuquay-Varina that resonates with so many.

The Town of Fuquay-Varina has a total of 17 road projects totaling around $40 million over the next two years. That equates to $1 million per one thousand residents spent on transportation. Town leadership worked hand-in-hand to craft a clear vision for sustainable growth. We actively engaged with investors, highlighting our strengths, and fostering open communication. Strategic investments in infrastructure – roads, utilities, and community amenities – created a welcoming and supportive environment, ready to nurture budding businesses and provide residents with seamless access to necessities and enjoyment.

Looking beyond the immediate excitement, we must ensure this momentum carries forward. The Fuquay-Varina Downtown Generational Master Plan is currently in development with McAdams Consulting. This plan will ensure our downtown remains a vibrant hub for commerce, community, and culture, offering a place to live, connect, create, and thrive.

The best is yet to come for Fuquay-Varina. With continued engagement and support, we will transform the construction sites of today into the bustling hubs of tomorrow, creating a thriving economy, a vibrant community, and a town where everyone can prosper. Thank you for being part of this incredible journey. Let’s embrace the exciting future unfolding before us, for our town is truly a dash more!

BLAKE MASSENGILL MAYOR, TOWN OF FUQUAY-VARINA

$385,529,534

1,278

ACCOLADES

In 2023, MoneyGeek Ranked Fuquay-Varina as the Safest Small Town in North Carolina

ETC Institute ranks Fuquay-Varina in the top 10% of all local governments in the United States for the quality and value of service provided to its residents (2023)

WalletHub ranks Fuquay-Varina in the 90th percentile of Best Small Cities in America (2023)

Opendoor listed Fuquay-Varina in America’s 20 Hottest Real Estate Zip Codes. Only two towns in North Carolina made this list: Fuquay-Varina and Wake Forest.

(Zip codes were ranked by the total homes that went under contract within 90 days of listing in 2023)

COMMERCIAL REAL ESTATE AND MARKET FEASIBILITY STUDY PROJECT

Kimley Horn and Associates presented the findings of the Commercial Real Estate and Market Feasibility Study project to the Town of Fuquay-Varina Board of Commissioners in the Spring of 2023. The study provided an objective assessment of trends, demographics, economic conditions, and growth opportunities in Fuquay-Varina. This analysis documents existing conditions from a socioeconomic and real estate perspective, providing baseline market statistics to inform future development. The study found that the Town’s substantial population growth since 2010 has positvely impacted job growth in recent years. There is an excellent opportunity to recruit additional retail and commercial projects to the Town. The retail trade area surrounding Fuquay-Varina has a robust development pipeline, with existing projects adding nearly 1.3 million square feet of retail space as planned and a pipeline with more than 115,000 square feet of office space.

ECONOMIC DEVELOPMENT PROJECT UPDATES

CCL Label, Inc.

In 2021, CCL Label Inc., a leading producer of specialty packaging solutions, announced its exciting expansion into Fuquay-Varina, North Carolina. This project, located at the site of the former Fuquay-Varina Business Park, is currently underway with an anticipated completion date in late 2024.

Through the sale of the Town-owned business park, Fuquay-Varina strategically attracted CCL Label’s Healthcare Division, poised to create approximately 150 new full-time jobs. This new contruction not only injects economic vitality into the community but also aligns perfectly with the Town’s vision for attracting advanced manufacturers that support our targeted industries.

CCL Label Inc. expansion into Fuquay-Varina

Fuquay-Varina’s prime location within the Research Triangle Region was a key factor in CCL Label’s decision. The proximity to major customers and a skilled workforce within the Research Triangle Region makes Fuquay-Varina an ideal base for the company’s operations.

This project exemplifies the success of collaborative efforts between municipalities and businesses. By fostering an environment conducive to growth and innovation, Fuquay-Varina continues to attract leading companies, contributing to a thriving and sustainable local economy. Construction is underway and anticipated to be complete by the end of 2024.

Berk-Tek LLC Expands: Investing in Fuquay-Varina’s Future

Berk-Tek LLC, a Leviton Company and leading manufacturer of high-performance fiber optic cables solidifies its commitment to Fuquay-Varina with significant expansion. In late 2022, the company announced plans to grow its existing facility by 95,000 square feet, creating 100 new full-time jobs and making significant investment in machinery and equipment.

For over two decades, Berk-Tek has been an integral part of Fuquay-Varina’s manufacturing landscape. This expansion builds upon that solid foundation, demonstrating the company’s confidence in the region’s skilled workforce and strategic location.

The construction of the facility is well underway. The expanded facility will provide Berk-Tek with increased capacity to meet the growing demand for high-speed fiber optic solutions, crucial for modern telecommunications infrastructure. The construction of the expansion project is expected to be complete in 2025.

Wake Medical Office Building

The construction of the 82,000-square-foot Wake Medical Office Building at the gateway of Fuquay-Varina began in 2023. It is a crucial development for our expanding community. This state-of-the-art facility will house general family medicine providers and specialized medical services, addressing the diverse healthcare needs of our residents. Its strategic location ensures accessibility and convenience. With anticipated completion in late Spring 2024, this medical facility not only enhances our healthcare infrastructure but also underscores our commitment to supporting the well-being of our community amid growth.

Services that will be provided include:

n ENT – Head and Neck Surgery

n General Surgery

n Heart and Vascular – Cardiology

n Laboratory Services

n Obstetrics and Gynecology

n Pediatrics

n Physical Therapy

n Primary Care

n Raleigh Radiology

n Urology

n Wake Orthopedics

Wake Medical Office Building

Berk-Tek LLC’s expansion of their current facility

ENTREPRENEURSHIP & SMALL BUSINESS SUPPORT

LaunchFV Program

Fuquay-Varina’s LaunchFV program was successfully launched in August 2023. The program supports and nurtures entrepreneurs and small businesses. Collaborating entities included the Fuquay-Varina Rotary, the Town of FuquayVarina, the Fuquay-Varina Chamber of Commerce, and Fuquay Coworking, in partnership with Wake Technical Community College.

Participants in the program, selected through a competitive application and review process, benefited from a comprehensive curriculum. Key components of the program include:

n A 10-week training class, meeting once a week for three hours, utilizing the Kauffman curriculum.

n Hands-on mentoring

n Peer and community networking opportunities

n Assistance in accessing non-traditional sources of capital

A pivotal aspect of the program was the incorporation of an intensive “startup weekend” small business accelerator-type program known as Innovate Fuquay-Varina (InnovateFV). While LaunchFV focused on classroom instruction, InnovateFV leveraged extensive resources from the local business community to assist aspiring entrepreneurs in launching their startup businesses over a single weekend. The capstone event for the LaunchFV participants completed the training. The participants pitched their startup ideas to a room filled with business mentors and specialists, including designers, lawyers, CPAs, copywriters, business coaches, and marketing professionals, all volunteering their support.

On November 19th, 2023 the students unveiled and launched their new startup businesses to the Fuquay-Varina community. They shared their experiences in the LaunchFV program and showcased the work accomplished during the InnovateFV capstone project to a supportive audience of community members and business leaders.

BUSINESS ASSISTANCE GRANTS

Façade Improvement Program

The Facade Improvement Program is intended to enhance existing facade structures in the Downtown Commercial-1 (DC-1) and Downtown Commercial-2 (DC-2) Zoning Districts. By providing financial assistance to property and business owners, the program aims to facilitate the enhancement of building exteriors to meet the standards of the commercial zones. Through targeted initiatives such as facade renovations, signage upgrades, and architectural enhancements, the program seeks to invigorate the aesthetic character of the business district, fostering a dynamic and welcoming environment conducive to economic prosperity.

In 2023, there were four recipients of the Facade Improvement Program, including Joyce Family Restaurant, specializing in Southern cuisine; Inner Beast Hatchet, a premier digital axe-throwing venue; Revelry Barber, a traditional barbershop offering modern amenities; and Original Strength Institute, a unique physical training facility.

DOWNTOWN DEVELOPMENT

Downtown Investment

1 Building Rehab Project

7 Public Improvement Projects

$1,351,698 in Public Investment

$200,000 in Private Investment

New and Expanded Businesses

6 New Businesses

1 Expansion

Fuquay-Varina Downtown Generational Master Plan

The Town of Fuquay-Varina is partnering with McAdams Consulting Firm to develop the Downtown Generational Master Plan, a comprehensive blueprint for guiding future investments in both downtown districts. The plan will: identify opportunity sites for development within the downtown districts; formulate innovative concepts for housing, commercial/retail, cultural arts, landscaping, and recreation; provide recommendations for transportation and streetscape design; and provide land use and zoning recommendations.

Through community meetings, online surveys, and workshops, the firm is gathering valuable input from residents, businesses, and stakeholders. This collaborative approach ensures the plan reflects the community’s unique needs and aspirations.

McAdams is leveraging its expertise and proven methodologies to analyze demographic trends, economic conditions, and existing infrastructure. This data-driven approach will inform the development of realistic and achievable long-term goals for the downtown area.

The Fuquay-Varina Downtown Generational Master Plan will provide a clear roadmap for revitalizing the downtown area, fostering economic growth, enhancing community livability, and preserving the town’s unique character.

The completion of the comprehensive Downtown Generational Master Plan containing actionable recommendations and implementation strategies is to be completed in 2024.

Downtown Mixed-Use Development Project

In the summer of 2023, the Town of Fuquay-Varina issued a Request for Qualifications (RFQ) to foster a collaborative partnership with a private developer for a mixed-use development project within the downtown district. The project site, spanning 2.52 acres at the intersection of Main and E. Academy Streets, has been acquired by the Town, signifying its commitment to driving growth, enhancing economic vitality, and establishing the downtown area as a prominent local attraction. In late 2023, the Town began the evaluation process for RFQ submissions from interested private developers. Additionally, in preparation for the site’s development, the Town demolished existing vacant commercial structures.

INFRASTRUCTURE INVESTMENTS

Varina Parking Lot

Fuquay-Varina’s Varina downtown district is poised for a boost in accessibility and economic vibrancy thanks to support from Ample Storage. Through the generous donation of land by Ample Storage, construction of a new public parking lot began in 2023, addressing a need for increased parking in the area.

The parking lot offers an addition of 123 designated parking spaces with five ADA-accessible spaces. Recognizing the growing trend of electric vehicles, the lot will also feature four strategically placed charging stations, ensuring convenient and sustainable access for residents and visitors alike. Modern lighting further enhances the space’s functionality and safety. This project increases parking in the Downtown Varina area bringing the total parking capacity to 221 parking spaces.

Fire Station 4 Project

Fuquay-Varina is preparing for the future with its brand-new Fire Station 4, a sprawling 18,650-square-foot facility located at 4821 Wade Nash Road. This impressive station brings together the Fuquay-Varina Fire Department (FVFD) and Wake County Emergency Medical Services (EMS) under one roof, ensuring swift and comprehensive response to emergencies.

Designed with both present and future needs in mind, Fire Station 4 prioritizes firefighter safety while honoring the illustrious history of the FVFD. It seamlessly blends innovative features with a nod to the past, making it a model for firefighter health and well-being.

But Fire Station 4 isn’t just about cutting-edge technology; it also celebrates the rich history of the FVFD. A dedicated history room showcases the department’s journey, featuring a fully restored 1945 Mack Truck, the first new fire truck acquired by the Town of Fuquay Springs.

Fire Station 4 embodies both innovation and respect for the past, setting a high standard for firefighter health and community service. The facility is expected to open in Spring 2024.

Fuquay-Varina Community Center North

The Fuquay-Varina Community Center North project kicked off in late 2023, and since then, significant progress has been made, with construction efforts including foundational work and the installation of utility systems. This steady advancement has ensured that the project remains firmly on schedule. The envisioned facility is designed as a multifaceted space tailored to meet the diverse needs and interests of the local community. It will boast state-of-the-art recreational facilities, including a spacious fitness center equipped with modern exercise equipment and multipurpose rooms intended for group fitness classes and community events. Additionally, plans encompass recreational amenities such as indoor basketball courts and designated spaces for youth programs and senior activities, all aimed at promoting physical activity, wellness, and social engagement among residents of all ages within the Fuquay-Varina community.

A cornerstone of the project’s success lies in the active involvement of the community in shaping its design and programming. Through town hall meetings, surveys, and ongoing communication channels, local input has been integrated to ensure the center aligns with residents’ desires and preferences, fostering a sense of ownership and pride in the forthcoming facility. As construction progresses steadily, excitement among residents continues to build, with the Fuquay-Varina Community Center North poised to emerge as a vibrant hub of activity and connection. Whether for fitness pursuits, recreational endeavors, community gatherings, or educational initiatives, the center is primed to enhance the lives of individuals and families, ultimately elevating the overall quality of life across the town. With completion anticipated by early 2025, the project represents a significant milestone in Fuquay-Varina’s commitment to fostering community well-being and vitality.

TRANSPORTATION

S. Main Street and S. Judd Parkway Improvement Project

The S. Main/S. Judd Intersection operational improvements began in mid-October 2023. This project will construct dedicated left, straight, and right turn lanes and a sidewalk. The improvements are funded by federal and state grants.

North Carolina Department of Transportation Signalization Project

NCDOT began a town-wide signal system project in November 2023 to synchronize approximately 40 signals with adjacent intersections to create better traffic flow. This $3.2 million project is funded by NCDOT and will be complete in 2025. The project aims to enhance traffic signalization technology, facilitating inter-communication between signals to optimize timing coordination.

UTILITIES

Sanford Water Filtration Project

The Town of Fuquay-Varina, along with the Town of Holly Springs, the Town of Pittsboro, and the City of Sanford, are participating in the Sanford Water Filtration Expansion Project, to increase plant capacity from 12 million gallons per day to 30 million gallons per day. After the expansion and completion of the conveyance line, the Town will have access to an additional 6 million gallons per day of water.

In October 2023, the Town received $28.6 million in the State Budget to support the Water Conveyance Line Project.

Terrible Creek Wastewater Treatment Plant Expansion

Plans are underway to expand the Terrible Creek Wastewater Treatment Plant from 3 to 6 million gallons daily. Construction should be complete in 2027. In 2018, the plant expanded from 1 to 3 million gallons per day. The original treatment plant was constructed in 1997 with a capacity of 0.50 million gallons per day when the town’s population was 6,800 and was expanded to 1.0 million gallons per day in 2001.

Harnett County Wastewater Treatment Plant

The Town currently has 2.6 million gallons of wastewater treatment capacity per day in the Cape Fear River Basin. Through an interlocal agreement, the town will be expanding the North Harnett Regional WWTP by 3.4 million gallons per day (mgd) to 6.0 mgd total capacity.

Town of Fuquay-Varina Board of Commissioners

Left to right: (seated) Commissioner Bill Harris, Mayor Blake Massengill, Mayor Pro Tem Marilyn Gardner, Commissioner Charlie Adcock, Commissioner Jason Wunsch, Commissioner Bryan Haynes.

Tiffany H. McNeill, CEcD

Economic Development Director

tmcneill@fuquay-varina.org 919-753-1031

Town of Fuquay-Varina

134 N. Main Street

Fuquay-Varina, NC 27526

www.buildinfvnc.com