Main Street Tips Over $4 Billion in Investments for North Carolina Communities
PROGRAM REPORTS 1,829 NEW JOBS, 381 NEW BUSINESSES AND $453,839,965 IN INVESTMENTS IN FY 2020-21
Aug 23, 2021
Today, the North Carolina Main Street and Rural Planning Center reports that since the inception of North Carolina’s Main Street program in 1980, designated Main Street communities have leveraged more than $4.08 billion in public and private investment in their downtown districts. More than 7,000 buildings have been rehabilitated, and there has been a net gain of more than 7,000 businesses and more than 30,000 jobs.
“The North Carolina Main Street & Rural Planning Center works every day to help communities execute asset-based economic development strategies that result in investment, business growth and job creation,” said North Carolina Commerce Secretary Machelle Baker Sanders. “These investment numbers represent a local commitment to small and medium-sized communities, the tremendous development that is occurring across our state, and the impact that the Main Street program has on economic development.”
Fiscal year 2020-21 was a record year for the program, with more than $453.8 million acquired in local public and private investment, representing an increase of $63 million more than the previous year, and nearly $184 million more than 2019. Local communities also experienced a net gain of 381 new businesses and 1,829 new jobs in their downtowns.
These results are from the N.C. Main Street and Rural Planning Center’s fiscal year reports for the 66 designated Main Street and the 12 designated Small Town Main Street communities active in the two programs.