Michael Smith, President, Chatham County Economic Development Corporation

Invest: sat down with Michael Smith, president of Chatham County Economic Development Corporation, to discuss recent project delays, the county’s competitive positioning, and priorities for future growth. “We’re much more competitive, more visible, and better prepared for future growth than we were before,” Smith said.

What changes over the past year have most shaped the county’s economic development strategy?

Our two major projects continue to be stalled due to the administration’s shift away from green energy.

The Wolfspeed project did build 2.2 million square feet, and it is the largest silicon carbide manufacturing facility in the world, but currently it is on hold because that is connected with the electric vehicle market.

Then the major site that we have in Moncure, the Triangle Innovation Point site, has 1,765 acres there that VinFast bought in March 2022, and they still have not gone vertical yet, again as a result of the change in the EV market in America.

How would you describe the county’s trajectory? What is driving momentum and demand?

We’re in the geographic center of North Carolina. We’re one of the few towns in North Carolina with two megasites. At some point in 2026, those megasites could possibly be available, depending on what VinFast does or does not do. We also have a business park that we share with our colleagues in Apex, the Apex Gateway site. So we do have available real estate, and things look promising for the rest of 2026.

What attracts companies when they choose the county for expansion or relocation?

Our geographic center in North Carolina puts us within access of significant numbers of workers. They can come to any of our sites, both in eastern Chatham County, where Moncure and Pittsboro are, or in western Chatham County, where Siler City is, and where the Chatham Advanced Manufacturing Site sits.

Beyond talent, what stands out from an infrastructure perspective?

We have significant power access at both sites, primarily from Duke Energy, but also from our colleagues at Randolph Electric at the CAM site. We also have great water and sewer infrastructure with our connection to TriRiver Water out of Sanford.

How are you balancing business recruitment with support for existing businesses and local entrepreneurs?

We have a staff member who calls on existing industries to make sure they are getting what they need and ensuring they are prepared for the future, while also talking to them about supplier opportunities that might want to locate here in central North Carolina.

How are you and your team working to ensure residents can access the job opportunities being created in the region?

We work closely with the state of North Carolina, through both the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina. We have our information in the appropriate places on their respective websites, and we work closely with our community college, Central Carolina Community College. North Carolina is not only the No. 1 state for business, but we have also been ranked as the No. 1 state for workforce development. We feel fortunate about that as it relates to our location.

How important is quality of life in attracting both companies and talent?

Since the pandemic, that has become more important, and the quality of life in Chatham is exceptional. We have possibly the most significant mixed-use community development on the East Coast. Chatham Park is here in Chatham County, in Pittsboro, and as a part of that particular development, there is a Disney Storyliving development. It is only the second one that has been announced, with the first one being in California. It’s called Asteria, and it will start selling houses in January.

What opportunities do you see to strengthen partnerships with regional players across the Triangle?

We’re a part of two different regional marketing organizations: the Research Triangle Regional Partnership and the Carolina Core. That puts us in front of a lot of different industry leaders, as well as site consultants. We’re fortunate to have those relationships. It is a good way to position ourselves in terms of being around the right people.

What are some of the biggest challenges you are seeing today, and how are you addressing them?

Probably misinformation from social media, in particular as it relates to technology development, and more specifically, data centers. That has continued to drive a lot of negative conversations and perceptions. We are trying to provide information for the public to have a better understanding of what those target facilities are and are not.

We’re at a point where people need to understand why economic development is important to everyone as it relates to helping balance the tax base, so that we are not overly dependent on residential development and residential taxpayers. Bringing in industry allows industry to help pay for those taxes as well.

Looking ahead, what are your top priorities for the county’s economic development efforts over the next few years?

Winning those two large, globally competitive projects a couple of years ago certainly changed the brand of Chatham County. We’re much more competitive, more visible, and better prepared for future growth than we were before winning those two large projects. We’re continuing to build on that brand.

In fact, those two megasites are in flux right now, and they could be changing. Regardless, we have 2,000 acres of available industrial real estate here in central North Carolina and Chatham County.

Is there anything else you would like to highlight?

U.S. 421, which is between Winston-Salem and goes to Fayetteville kind of diagonally through the center of North Carolina. More importantly, it goes through the center of Chatham County. It is slated to be upgraded to I-685. That is a big positive for us.

Again, we’re fortunate in terms of having great relationships with our neighbors, working closely with TriRiver Water in Sanford that provides water to both the Moncure megasite, Pittsboro, Siler City, and the CAM megasite. We also have a close relationship with the town of Apex and the Apex Gateway Park. It is great to be in a location with good neighbors you can work with and help one another.