Town of Yanceyville
Economic need
Yanceyville and surrounding Caswell County have been hit hard by the downturn of their historic economic strengths: agriculture and the textile and apparel industries. Plant closings and layoffs have thrown thousands out of work, and many stopped seeking jobs. The county labor force has contracted by 30 percent (nearly 3,000 people) since 1999. Despite the smaller labor pool, the unemployment rate averaged nearly 8 percent throughout 2005.
Caswell is a tier 1 county. Yanceyville, with a population of 2,100, mirrors its county. The municipal poverty rate is 28 percent.
History
Yanceyville has begun the process of regrouping and moving forward. It is cooperating with the county on the potential development of regional water and sewer facilities and has purchased a former apparel factory, which is located downtown. In cooperation with Piedmont Community College, it has designated a portion of the factory for use as a law enforcement training facility. It expects the facility to bring increased traffic for downtown businesses. The town and county have approved establishment of a food and lodging tax, with proceeds to finance a new travel and tourism authority.
Vision/Goals/Expectations
The town will use STEP first and foremost to begin to take more control of its economic future. It seeks to become a more active partner with the county in economic development, perhaps creating its own economic development post. It also seeks to encourage greater citizen participation in planning and carrying out economic development activities. It anticipates the development of a strong leadership team; a comprehensive economic development strategy, endorsed and actively supported by community; and a stable system of financing economic development. Potential stimulants for business development include incentive programs, specialized zoning, and business incubators.
Contact
Steve Smith, Manager
P.O. Box 727
Yanceyville, NC 27379
Phone: 336-694-5431
Fax: 336-694-1499
E-mail: SteveSmith91@hotmail.com
