2005 Interlocal Development Agreement—KTREDC

A lot of citizens seem to be uninformed about the 2005 Interlocal Development Agreement for the Kerr-Tar Hub Zone between Vance, Granville, Warren, and Franklin Counties This agreement allows Granville, Vance, Franklin, and Warren counties to profit off the suffering of Vance County residents who will be victimized by this hyperscale data center at the Triangle North Vance Park. Tax dollars are funding these activities through the Kerr Tar Regional Economic Development Corporation (KTREDC).

The four counties agreed to jointly pursue enhanced economic development by acquiring, developing, and operating multiple business/industrial parks (“Sites” or “Business Parks”) across the region. They created a shared structure so that no single county would bear the full cost or capture the full benefit of large-scale industrial sites. The agreement implements a regional “hub” concept recommended in earlier studies, positioning the parks to attract businesses that want access to the Research Triangle while remaining in lower-cost, incentive-eligible counties.

Distributions to the counties are made according to dynamic revenue percentages (detailed in Exhibit D of the agreement). These start at 25% each, but adjust based on each county’s “contributions account.” Credits include cash and in-kind contributions for debt service, park development costs, capital budgets, and O&M budgets, plus 8% annual interest. A county’s percentage equals its contributions-account balance divided by the total of all four accounts.

Kerr-Tar Regional Economic Development Corporation (KTREDC) Board

Based on the most recent publicly available information from the organization’s Form 990 filings (reported as of Oct. 27, 2025, via GuideStar and ProPublica):

Chairman Dan Brummitt, President Danny Wright, Vice Chairman Tim Karan, Board Members Abdul Rasheed, Adam McConnell, Ali Cooper, Jennifer Jordan-Pierce, John Alston, Keith Smith, Leslie Scott, Mark Speed, Robert Fleming, Shane Mitchell, and Victor Hunt.

These names come from the self-reported board list on GuideStar and the officer/key employee sections of the recent IRS Form 990s.

KTREDC is a 501(c)(3) nonprofit (EIN 20-3115014) focused on economic and community development in Franklin, Granville, Vance, and Warren counties. Its board has historically included a mix of local elected officials and private-sector members. It is related to, but separate from, the Kerr-Tar Regional Council of Governments. KTREDC held land in all four parks, at least until some of the land in Triangle North Vance was signed back over to landowners after taxpayers paid the property taxes through the KTREDC on these parcels for 17 years.

In practical terms, the 2005 agreement creates a regional economic-development vehicle in which the four counties pool resources through KTREDC, share the costs of site readiness, and divide incremental tax revenues according to their relative contributions rather than solely by which county hosts a particular project.

CHRIS COMBS

Oxford

2005 Interlocal Development Agreement—KTREDC

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