Page 5 - Suburban Living Fuquay-Varina

Coming to Fuquay-VarinaTwo other large projects include the relocation of “A-Safe” from England to its new headquarters on Hwy 401 near Banks Road, and the construction of a 44,000 sf classroom and gym facility on the grounds of Southern Wake Academy on Old Powell Rd. Both of these projects represent job creation and an investment in our community by respected corporate interests.These upcoming projects come on the heels of some of the most rapid residential growth Fuquay-Varina has seen in almost 10 years. According to the town’s website, 14 subdivisions are involved in the construction of over newhomes.Ofthose 14 subdivisions, eight of them are BRAND NEW subdivisions that are in their first phases of development! More residential construction is anticipated in the near future, and more retail and servicesector projects will be a natural extension of that activity.While these more visible projects are a great way to see that things are changing at a pretty fast pace, there are several other economic development projects that are gathering momentum in quieter ways. One of the community’s successful efforts is the public-private partnership between the town’s economic development department and four of the community’s largest manufacturing companies. Called the BIG 4 Initiative, the town and four of the community’s industry leaders—Bob Barker Company, John Deere Turf Care, Southbend Range, and TE Connectivity—are partnering to capitalize on the latest trends in manufacturing and workforce development.The recruitment of advanced manufacturing firms and suppliers for the “BIG 4” companies is important for expanding Fuquay- Varina’s manufacturing footprint and thereby creating job opportunities for local residents. Fuquay-Varina’s strategic location between Fayetteville and Raleigh, as well as its access to a highly educated workforce positions the community to be a mini-hub and multi-corridor location for manufacturing.In June of this year, twoof Fuquay-Varina’sBIG 4 companies,John Deere Turf Careand TE Connectivity,received “IncumbentWorkforce TrainingGrants” through the Capital Area Workforce Development Board. These workforce training funds will be used to train employees on the latest innovative technologies each company uses to produce the most effective products.A direct result of the town’s commitment to cultivating a public-www.suburbanlivingmag.comprivate partnership with the community’s larger companies has resulted in the recruitment of an advanced manufacturing firm, A-Safe, Inc. The European-based firm makes fixed, polymer safety barriers used in warehouses, airports, and distribution facilities around the world. A-Safe has located its U.S. operations here by leasing 10,000 sf of warehouse space in Fuquay- Varina. A-Safe is now looking for a location to build a 150,000 sf manufacturing facility that could employ up to 130 people and represent a capital infusion of about $19 million into the local economy. The town’s economic development department is working with A-Safe to help secure a permanent location in our community.The town continues to strategically manage its growth through collaborative planning efforts among and within its different departments. This past August, Fuquay-Varina’s bond rating was upgraded from AA to AAA by Standard & Poor, which is the highest rating the agency offers. The town is one of only 15 municipalities in North Carolina with a AAA bond rating, and the only town in the state with a population under 25,000 to hold that rating. Having the ability to borrow money at lower interest rates to pay for utility, road, and other improvements as the community continues to grow is an important tool in managing that growth responsibly.As Fuquay-Varina continues to grow, many around the state are taking notice. As of May 2014, six of the 10 fastest-growing towns in North Carolina were in Wake County (Census Bureau). Fuquay-Varina has seen its population grow by over 14% in the last three years. Fuquay-Varina ranks #1 in population growth in the state of North Carolina of towns with population of 20,000 or more and #4 overall in the state. In 2013, Fuquay-Varina was fourth out of 12 municipalities in Wake County to issue the most single-family housing permits.The robust residential growth and the upward spike in population has increased the demand for more retail services and amenities that improve residents’ quality of life. This Fall, a Raleigh-based developer committed to building a mixed-use development project on the corner of Old Powell Road and Hwy 55 that will include up to 265 apartments and a 75,000 square-foot grocery store anchor. In addition to several outparcels, this will be a private investment of up to $50 million and will be one of Fuquay- Varina’s gateway projects.Fuquay-Varina continues to recruit other retail amenities to the community for its residents and those of neighboring communities to enjoy. The Town of Fuquay-Varina is also working hard to improve the public amenities that are available to its residents. In October 2014, town commissioners approved a $7 million, five- year master plan for its Parks & Recreation department that will include playground upgrades at several parks, a splash pad, ball field improvements, construction of an outdoor basketball park, and funding for a potential cultural arts center.1 , 2 0 0Suburban Living Fuquay-Varina | Page 3