Golden LEAF funding will be used to install an electrical service and electrical switch gear to the historic industrial structure.

There’s a desperate need for scalable, affordable industrial space here in the Triad’s entrepreneurship community.”

— Lisa Hazlett, NCFE President.

GREENSBORO, NC, UNITED STATES, February 15, 2024 / — The Nussbaum Center for Entrepreneurship (NCFE) announced that it received $750,000 in funding from Golden LEAF Foundation for The Steelhouse, a major redevelopment of the 11-acre former Carolina Steel facility in East Greensboro. Pending permitting, construction is expected to begin in mid-2024.

Golden LEAF funding will be used to install an electrical service and electrical switch gear to the historic industrial structure. These upgrades are required to meet today’s manufacturing safety requirements.

The Steelhouse, owned by NCFE, is poised to become an urban center of manufacturing and innovation and a catalyst for new business development and job creation in the Piedmont Triad region. The project will convert the existing raw space into flexible, scalable spaces that meet the needs of manufacturing entrepreneurs, farmers, food producers, and the neighboring community. Phase 1 is expected to create an estimated 177 full-time recurring jobs.

“There’s a desperate need for scalable, affordable industrial space here in the Triad’s entrepreneurship community,” said Lisa Hazlett, NCFE President. “While entrepreneurs have abundant access to office space, day desks or co-working spaces, scalable manufacturing space is scarce. Without more readily available space, our region’s manufacturing entrepreneurs will continue to be disenfranchised limiting their growth potential.”

Sam Funchess, NCFE CEO said: “Thank you, Golden LEAF for recognizing The Steelhouse’s future impact and for helping us meet the standards that modern manufacturing businesses require. We’re grateful to Guilford County for their endorsement of The Steelhouse for Golden LEAF’s Community-Based Grants Initiative.”

“Golden LEAF is pleased to support electrical infrastructure upgrades for The Nussbaum Center for Entrepreneurship’s The Steelhouse,” said Golden LEAF President, Chief Executive Officer Scott T. Hamilton. “This project will address a local need for more small manufacturing and industrial space and create 177 new full-time positions.”

“I am thrilled to hear that Golden LEAF has selected The Steelhouse project to receive a community-based grant. The Guilford County Board of Commissioners made a strategic allocation of $2 million of American Rescue Plan Act funding towards The Steelhouse project to help with local workforce and small business development,” said County Manager Michael Halford of Guilford County. “The additional funds from Golden LEAF will help move the project forward and create more small manufacturing and industrial space, which means new employment opportunities in a currently underserved area – all things that align with the county’s priorities and core values.”

Six Associate businesses currently located at the Nussbaum Center are prepared to expand, occupying 23.7% of The Steelhouse’s upcoming manufacturing space. Discussions are also taking place with two Triad companies interested in the remaining 76.3%.

“We will convert the raw space into individual bays of varying sizes to meet the needs of small-scale manufacturers and industrial users,” Hazlett continues. “The Steelhouse is located in an Opportunity Zone, a Qualified Census Tract and is the lowest per capita Census Tract in Greensboro, NC. The community needs this historic industrial structure redeveloped and reclaimed for their benefit.”

The Steelhouse has previously received a combined $6.4 million in funding from city, county and federal governments and local foundations. The funds from Golden LEAF bring that total to over $7.2 million.

About the Nussbaum Center
The Nussbaum Center for Entrepreneurship is a 501(c)3 non-profit and has been a magnet and a supportive partner for entrepreneurs, assisting with services every young business needs to succeed and grow since 1988. For more information:

Desiree Niccoli
Alschuler Communications
+1 412-535-5701
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