Pittsboro, NC – Michael Smith’s presentation before the Chatham County School Board was a comprehensive outline of the transformative changes on the horizon for Chatham County. As the head of the Chatham County Economic Development Corporation, Smith has a front-row seat to the county’s rapid evolution into a hub of economic activity. His presentation provided a look at the major developments shaping the future, from sprawling new industrial parks to high-tech manufacturing facilities.
Smith began by discussing the importance of the “Carolina Core,” a marketing initiative designed to attract businesses and investors to central North Carolina. This initiative positions Chatham County as a key player in a region that extends from Winston-Salem to Fayetteville, highlighting its strategic location, resources, and the attractiveness of its natural environment.
Chatham Park: A New Town Emerges
One of the most significant projects discussed by Smith was Chatham Park, a massive, 8,000-acre development that is redefining the landscape of Pittsboro and its surroundings. Described as a “new town” by Smith, Chatham Park is larger than Research Triangle Park, which covers 7,000 acres. This development promises to bring a mix of residential, commercial, and recreational spaces, creating a self-sustaining community that could house thousands of residents.
The project, which began over 15 years ago, has been slow to materialize, leading to skepticism among some residents. However, Smith assured the board that Chatham Park is finally gaining momentum. With the opening of new facilities like the Hampton Inn in September 2024, and ongoing construction of residential units and commercial spaces, Chatham Park is beginning to take shape. The development is expected to play a crucial role in attracting businesses and residents to the area, significantly boosting the local economy.
VinFast and Wolfspeed: Pioneering the Future of Manufacturing
Another highlight of Smith’s presentation was the update on VinFast, the Vietnamese electric vehicle (EV) manufacturer that has chosen Chatham County as the site for its first North American plant. Despite initial delays and market challenges, Smith assured the school board that VinFast is moving forward with its plans, with significant site work already completed and construction set to continue. Smith emphasized the long-term nature of the project, comparing it to Chatham Park in its potential to transform the region.
If it comes to fruition, VinFast’s plant is expected to create thousands of jobs over the next decade, providing opportunities for local residents and contributing to the county’s economic diversification.
Similarly, the Wolfspeed facility, located near Siler City, is making significant progress. Wolfspeed, a leader in silicon carbide technology, is ahead of schedule in constructing its new manufacturing plant, which will focus on producing materials for EVs and other high-tech applications. The facility is expected to employ over 2,000 people at full capacity, with 360 employees already on board. This project, like VinFast, is seen as a cornerstone of Chatham County’s future economic landscape.
The Role of Education in Economic Development
Throughout his presentation, Smith repeatedly emphasized the critical role that education plays in the county’s economic future. He pointed out that a strong public education system is essential for attracting and retaining businesses. Companies looking to invest in the area are keenly interested in the quality of local schools, as they rely on a well-educated workforce to fill their positions.
Smith, whose mother was a public school teacher, expressed a personal connection to the cause of education. He lauded the efforts of the Chatham County School District and Central Carolina Community College in preparing students for the workforce. In particular, he highlighted the upcoming opening of the Chatham County Promise, a state-of-the-art training facility that will offer specialized programs in advanced manufacturing, life sciences, and other high-demand fields.
This facility, located adjacent to the main campus of Central Carolina Community College in Sanford, is expected to play a pivotal role in training the workforce needed for projects like VinFast and Wolfspeed. By providing local students with the skills and certifications required by these industries, the Chatham County Promise will ensure that the county’s young people are well-positioned to take advantage of the new job opportunities coming their way.
Challenges and Opportunities in Economic Growth
While Smith’s presentation was largely focused on the positive developments in Chatham County, he did not shy away from discussing the challenges that accompany such rapid growth. One of the most pressing issues is the need for more residential housing to accommodate the influx of workers. With over 20,000 people commuting out of the county each day for work, there is a clear need for more local housing options. Smith noted that residential development, particularly in areas like Siler City, will be crucial in supporting the county’s growing workforce.
Another challenge is the competition for talent. As more companies establish operations in Chatham County, there will be increased demand for skilled workers. Smith emphasized the importance of collaboration between the EDC, local schools, and community colleges to ensure that the county’s workforce is ready to meet this demand. He also highlighted the need for ongoing business retention and expansion efforts, noting that it is not enough to simply attract new companies; the county must also support existing businesses and help them grow.
Smith also touched on the environmental and infrastructure challenges posed by such large-scale development. He assured the board that while economic growth is a priority, it will not come at the expense of the county’s natural beauty and quality of life. The EDC is committed to sustainable development practices and is working closely with local and state agencies to ensure that new projects are environmentally responsible.
Community Impact and the Future Outlook
The developments outlined by Smith are not just about economic growth; they are about transforming Chatham County into a place where people want to live, work, and raise their families. Smith spoke passionately about the community impact of these projects, noting that they will bring more than just jobs—they will bring opportunities for a better quality of life.
One example of this is Asteria, a new luxury community that is part of the Chatham Park development. Asteria is being developed in partnership with Disney, and its only other location is in Palm Desert, California. Smith described Asteria as a place “where people dream of living,” and its presence in Chatham County is a testament to the area’s growing appeal as a desirable place to live.
The presence of high-profile companies like VinFast, Wolfspeed, and Innovate Construction Group, which recently announced a $40 million investment in Chatham County, is expected to attract more businesses to the area. These companies are bringing high-paying jobs with them, and as more people move to the county for work, the demand for services, entertainment, and other amenities will grow.
Smith also highlighted the positive impact of these developments on local schools. The EDC is working closely with the school district to ensure that students are prepared for the new job opportunities coming to the area. This includes not only vocational training but also initiatives to improve academic performance and increase access to higher education.
Smith Sees A Bright Future for Chatham County
In his concluding remarks, Michael Smith painted an optimistic picture of Chatham County’s future. The projects he outlined are more than just economic initiatives—they are part of a broader vision for a community that is thriving, dynamic, and full of opportunity. While there are challenges ahead, the county is well-positioned to navigate them and emerge stronger than ever.
Smith’s presentation was well-received by the school board, with several members expressing their appreciation for the EDC’s efforts to support local education and workforce development. As one board member put it, “It’s really important that our local families get to benefit from the growth, and I’m glad to see that you’re making that a priority.”