New Hanover County investing $3.3 million in industrial center

NEW HANOVER COUNTY, NC (WWAY) — New Hanover County has entered into an agreement to support the expansion of Wilmington Trade Center, a business park on US Highway 421 near the I-140 interchange.

The board of commissioners voted unanimously in favor of investing more than $1 million into phase two of the trade center. Phase one of the project was completed in 2022.

Phase two will expand the trade center to 212 acres, and is master planned for up to 3.3 million sq ft. of industrial space over the next several years.  

The investment structure is broken into three parts of roughly $1 million each, for a grand  total of $3,383,112.

The development team will invest more than $80 million on the property, hopefully creating 1,500+ jobs. 

Commissioner Dane Scalise feels the project will produce a high return on investment for the county. 

“This is the sort of thing that I’m very glad that we’re doing,” Scalise said. “I’m grateful to the folks who are advancing this particular cause, bringing jobs to this community.” 

Construction of the facility is slated for completion early next year.