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Golden LEAF holds $50M to support auto manufacturing plant

ROCKY MOUNT — The board of directors of the Golden LEAF Foundation says it’s reserved $50 million to provide support for the location of an automobile manufacturing facility in North Carolina.

The foundation announced the move on Thursday.

Board chairman Johnathan Rhyne said the panel took the action to show its commitment to the opportunity. Rhyne said an auto maker and its suppliers can create thousands of jobs and serve as a catalyst for long-term economic advancement.

Golden LEAF President Dan Gerlach said the money isn’t earmarked for any specific company or location. Gerlach said the foundation generally does not make a single grant such as this one, but said the board recognizes the potential for change that such an industry would bring.

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