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The Aberdeen Carolina and Western Railway Co. (ACWR) was awarded $500,000 through the North Carolina Railroad Co.'s new Build Ready Sites initiative.
The funds will be used to help develop 90 acres that will encompass ACWR's Candor headquarters property into a rail-served industrial park in Montgomery County, ACWR officials said in a press release.
ACWR's plans include at least two buildings with the potential of covering 400,000 square feet of space for industrial, manufacturing or distribution uses that would require rail transportation.
"[We are] receiving potential economic development opportunities every week. This funding will help us get the Candor property ready for a future announcement," said ACWR Director of Business Development Paul Hoben.
ACWR, a 150-mile dual-access short line operating in central North Carolina, interchanges with Norfolk Southern Railway in Charlotte and CSX in Aberdeen.