A Publication of the Randolph County Economic Development Corporation
April 2025
Gillespie Precast Selects Randolph County
Governor Josh Stein has announced Gillespie Precast plans to open a new manufacturing plant in Randolph County. It's expected to create 39 jobs. The company, a leading producer of custom precast concrete, says it will invest $10 million in Asheboro.
Gillespie Precast is a family-owned company based in Maryland. It manufactures concrete products used in different industrial applications. This new Randolph County project will begin a manufacturing operation that will produce precast concrete wet and dry utility vaults, manholes, catch basins, box culverts and other custom structures. The new facility will also allow the company to better serve customers.
Do You Need Great Employees? Ultracraft Event
NC Works will be holding a Rapid Response Hiring Event for those workers that are going to be laid off from Masterbrand (Ultracraft) beginning in May. The company is not slated to shut its doors until September. We are looking at roughly 250 employees total over a four month period.
The event will be on Friday June 6, 2025 at Masterbrand in Liberty. It will run from 8am-12pm. If you are able to provide your own table and chairs, please do so. The facility will provide some, but likely won't have enough for everyone.
After a whirlwind month of tariff action, President Donald Trump hit a temporary “pause” on escalatory tariffs for nearly 60 individual countries, plus the entire European Union. Despite the pause, U.S. tariff rates are now at their highest level in approximately 90 years.
The country-by-country tariff pause could be an opportunity for businesses to evaluate the impact of those new import taxes, and to prepare for what’s to come.
The current tariff environment imposes pressures on many U.S. businesses and virtually all large ones. Not only are tariffs affecting imports, but they also can, and have, prompted retaliatory acts on U.S. exports. Companies poised to respond to tariffs would do well to concentrate efforts on a number of factors:
Re-examination of supply chains and alternate goods-and-materials sourcing Reappraisal and strategic revamp of global tax strategies Recalibrating pricing and customer strategy approaches Finding opportunities in mergers, acquisitions and strategic partnerships Renewing an emphasis on oversight
Though it remains to be seen how long current tariff policy will remain in place – Trump’s baseline China tariffs entered the week of April 7 at 54% and exited it at 145%, as an example of how fluid the situation is ꟷ we offer below a summary of where the tariff situations stand currently. Additional tariffs could still fall into place between now and July 9, as they remain at the discretion of the president, who has promised more duties on specific products like pharmaceuticals, electronics and semiconductors.
The Randolph County unemployment rate continued to reflect a strong local job market in February.
The unemployment level was 3.4%, down from 3.7% in January and also in February of last year, the N.C. Department of Commerce reported. Randolph County had a overall labor force in February of 66,871, with 2,263 listed as out of work.
Statewide, unemployment rates declined in 95 counties from January to February, increased in four and remained unchanged in one, the state Commerce Department reported. All 15 of the state’s metropolitan areas recorded rate decreases.
When compared to the same month last year, unemployment rates decreased in 71 counties, increased in 21 and remained unchanged in eight. There were 12 metropolitan areas posting rate decreases over the year, one increasing and two remaining unchanged.
Meet Congressman Hudson and Senator Tillis
Details: Tuesday Afternoon and Wednesday Morning in Washington, D.C.
Just as its Triad battery plant is about to officially enter production, Toyota Motor north America said Tuesday that sales of its electrified vehicles were up around 40% in the first quarter compared to a year ago and even better in March.
Electrified vehicles, meaning those with hybrid or all-electric battery drive trains, came to 288,796 in the first quarter, up on the year 39.6% by volume and 43.3% when reported on a daily selling rate basis to account for changes in the sales calendar year to year. Electrified vehicles represented 50.6% of total sales volume.
After a rare down quarter to close 2024, the Triad industrial market rebounded in the first quarter of 2025 with 1.3 million square feet of positive absorption and construction deliveries totaling 1.8 million square feet, according to CBRE's Q1 Industrial Market Report.
Overall vacancy rose to 8%, up 70 basis points for the quarter and 130 basis points year-over-year. While leasing activity was strong in Q1, CBRE attributed the increased vacancy rate to an influx of new speculative space in the market.
All of the positive absorption was in the warehouse category as flex absorption was negative 22,000 square feet.
The Governor's plan involves the creation of the ‘Council of Workforce and Apprenticeships’ through an executive order.
He said it's made up of workforce development leaders, leaders in public schools and higher education, and labor representatives from across the state. Their goal is to come up with strategies that fuel the economy and expand career pathways for North Carolinians.
"The people of this state are our greatest asset," he said. "So, to invest in the state's future, we have to invest in our people. And know this: while I am governor, no state will outwork North Carolina when it comes to developing our workforce."
Go! Monopoly: Greensboro Edition debuts featuring local landmarks:
The Carolina Theatre. LeBauer Park. Moses Cone Memorial Hospital. The Greensboro Farmers Market.
Those are among the landmarks featured in Monopoly: Greensboro Edition, unveiled Monday at the Greensboro Science Center, also one of the destinations featured on the board.
The special edition of the 90-year-old game, which pays homage to Greensboro and Guilford County, is the first of only a few licensed editions of the board game featuring North Carolina cities.
With an eye on upholstery manufacturers seeking out a domestic, private-label partner, Morris created a plan to increase production for residential upholstery at his Vision Contract Manufacturing factory in High Point. Less than a year since implementing the change, the North Carolina entrepreneur says he’s seen a significant increase in business.
“We have experienced a spike with companies wanting to onshore,” said Morris. “If I had to put a percentage, I would say 25% increase since October 2024. But we will not see that business until after the spring market. A lot of recent customers are launching their new collections during the 2025 spring market.”
In celebration of World Trade Month, the U.S. Commercial Service will host a number of export sessions during the first week of May as well as throughout the month! The sessions, led by both private and public sector experts, will feature tradecraft programs and industry focused opportunities. Many of the programs are being offered free of charge and you can choose as many as you’d like to attend. Whether you are new-to-export or an experienced exporter, Export Week will provide valuable information on forward thinking strategies and invaluable resources to increase your global sales.
If you like golf and want to help support the Leukemia and Lymphoma Society this is a great event to attend. This cause is close to our hearts as a Randolph county business member has been battling chemotherapy treatments for Leukemia over the past 4 years. Thanks to advancements in treatments they were able to beat the Leukemia and still be active for the remainder of their time on chemotherapy.
Nelson Ingram has overcome this challenge and still contributes to their business and our community. If you want to attend please reach out to him at npingram@ccimachine.com and see the flyer attached.
Thank you to the companies below which recently renewed their support of the EDC and the Randolph Rises campaign. Your contribution continues to make our service, reach, and impact felt across the county. We will update this list next month since Lisa is on a well deserved vacation:)
If you are interested in becoming a Randolph Rises investor, please click the button below.
