City of Hickory Business e-Newsletter | November 2022
Microsoft to Invest $1 Billion
Exciting news! Leaders of Catawba County, the Cities of Conover and Hickory, the Town of Maiden, and the Catawba County Economic Development Corporation announced on November 9 that Microsoft Corp. plans to invest a minimum of $1 billion in the phased development of four datacenters in Catawba County over the next 10 years.
The datacenters will be located in Conover, Hickory, and Maiden and will create at least 50 new jobs. The Hickory sites will be located on approximately 160 acres west of U.S. 321 adjacent to Hickory Lincolnton Hwy. and on approximately 16 acres on Tate Blvd.
The U.S. Census Bureau's official 5-year measure of American business and economy is here. The data from these surveys helps to fuel the most comprehensive statistics for industries.
The 2022 Economic Census will begin rollout in January 2023, with all responses due by March 15, 2023. The program intends to begin releasing this data by March 2024 with a continued release through 2026. This information will be used by policymakers, businesses, and local governments to make better and long lasting decisions about business and industry in their community.
In its 2020-2024 Consolidated Plan for Housing and Community Development, the City of Hickory identified increasing entrepreneurship opportunities as a high priority need. The Small Business Loan and Microenterprise Grant programs provide funding to small businesses to take their businesses to the next level. These programs are funded through the City’s Community Development Block Grant allocation and reviewed by the Business Development Committee.
The Small Business Loan Program provides loans to businesses looking for funding to create or retain jobs and expand their operations. Loans of up to $20,000 may be awarded. The maximum amount is based on the needs presented in the business plan.
The Economic Indicators Newsletter for Fall 2022 has arrived. This report on economic trends is produced by the Western Piedmont Workforce Development Board quarterly. Employment, household earnings, education statistics, and other data points for the Hickory-Lenoir-Morganton MSA are included. The EIN allows businesses to evaluate trends and valuable economic data points to make quality decisions about their businesses future.
The City of Hickory is committed to promoting business and economic development and offers a range of incentives to new and expanding businesses. For more information on available programs and incentives, visit Business Developmentor contact Dave Leonetti in the Office of Business Development at 828-323-7422.
