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AG 2011 08 15
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AG 2011 08 15
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8/16/2011 9:32:21 AM
Creation date
11/27/2017 11:16:35 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/15/2011
Board
Board of Commissioners
Meeting Type
Regular
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a new city <br />FOR A NON CENTURY <br />By John S. Cox, CCE, CEcD <br />FROM TEXTILES TO BIOTECH <br />even million square feet of textile <br />space stands vacant over an entire <br />downtown with no hope of another <br />user. T_ housands of jobs and generations of <br />stories come to an end. Kannapolis, NC, a city of <br />40,000, faced this challenge in 2003. Pillowtex — for- <br />merly Cannon Mills, then Fieldcrest Cannon — closed <br />its operations and left 280 acres lifeless in downtown <br />Kannapolis. For a year the mill sat in uncertainty, <br />leaving downtown Kannapolis with no prospects for <br />$1.5 billion biotech center focusing on nutrition. <br />KANNAPOLIS, NC <br />Our communities change every day, some marginally and some dramatically. If we are focused, we can anticipate those <br />changes and prepare for them; if we are prepared, we can prosper in spite of them. The elected and community leaders of <br />Kannapolis, North Carolina, would have to rely on both focus and preparation if they were to successfully move their city <br />from economic disaster to recovery and to prosperity. This is the story of how one community has worked to recreate itself <br />(with a little help from its friends) in the face of changing global realities. This is also the story of one man's vision and sig- <br />nificant public- private partnerships which gave rise to the North Carolina Research Campus, a $1.5 billion biotech center <br />focusing on nutrition. <br />center city redevelopment nor economic <br />recovery. Some 4,500 residents were left <br />without jobs, pondering life absent the <br />securities and familiarities of working in <br />the mill. <br />The city, located 15 miles northeast <br />of UNC Charlotte, did have the booming <br />Charlotte economy in its favor. Suburban <br />development on the outskirts of Kannapo- <br />lis increased as Charlotte's growth rippled <br />towards the city. However, the 280 -acre site <br />was still silent and faced many obstacles. <br />The city's entire downtown infrastructure — <br />from power to gas to water and sewer — ran <br />through the Pillowtex site, <br />In late 2004, California -based David <br />H. Murdock, CEO of Castle & Cooke, re- <br />purchased the Pillowtex site (having for- <br />merly owned it as the owner of Cannon <br />Mills) to protect his initial investment and <br />with only a few general ideas on how to <br />redevelop the largest textile facility in the <br />world. Murdock already owned much of <br />downtown Kannapolis, land he acquired <br />when he purchased Cannon Mills two <br />decades earlier. Murdock sold the mill in <br />John S. Cox, CCE, <br />CEcD, is president <br />and CEO of the <br />Cabarrus Regional <br />Chamber of <br />Commerce and <br />Economic <br />Development <br />Corporation. <br />(jcox @cabarrus.biz) <br />This is the story of how one community has worked to <br />recreate itself (with a little help from its friends) in the face <br />of changing global realities. This is also the story of one <br />man's vision and significant public - private partnerships <br />which gave rise to the North Carolina Research Campus, a <br />Attachment number 1 <br />Economic Develo rnent Journal / Spring 2011 / Volume 10 / Number2 39 <br />1 -T Page 599 <br />The David H. Murdoch Core Laboratory Building is located on the site of the former <br />Cannon Mills Lake. The building is the home to one of the world's largest Nuclear - <br />Magnetic Resonance (NMR) spectrometers. <br />
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