USA InvestCo to Develop Cold Storage Project at Port of Wilmington


Governor Pat McCrory and N.C. Commerce Secretary Sharon Decker recently announced that USA InvestCo plans to create 100 jobs and invest more than $15 million in a new cold storage facility at the Port of Wilmington. The N.C. Department of Commerce’s Ken Allen was the developer on this project.

The company is developing the Port of Wilmington Cold Storage facility, a 75,000-square-foot facility that will store locally produced pork, poultry, fruits and vegetables. PWCS could eventually be expanded to 300,000 square feet depending on demand.

“North Carolina and the Greater Wilmington region have become a very desirable site for companies to locate and expand their operations,” said McCrory. “With the need for secure, cold storage growing throughout North Carolina, we welcome USA InvestCo’s investment.”

USA InvestCo is made up of a group of experienced real estate developers with more than 80 years of combined expertise in both real estate development and management. Its track record includes acquisition, entitlement, development, management and sales. USA InvestCo’s general partners have raised more than $100 million for various projects throughout the U.S. in states such as Colorado, Florida, North Carolina, California and Texas.

“We are excited to be working closely with the State to create the only cold storage facility located on a port in the State of North Carolina,” said Chuck Schoninger, the principal of USA InvestCo. “PWCS’s strategic location on the Port of Wilmington provides our import and export customers with logistical benefits and helps the state by creating new jobs.”

USA InvestCo received assistance through a grant provided by the Golden LEAF Foundation to the N.C. Southeast Regional Economic Development Partnership to fund equipment needed for the proposed facility.

The Port of Wilmington Cold Storage facility is a public-private venture in North Carolina. This project was conceived through a partnership with state agencies within North Carolina as a catalyst for future North Carolina economic development. Influential partners that helped with the project include: N.C. Department of Transportation, N.C. Department of Agriculture, the N.C. State Ports Authority, the Golden LEAF Foundation, and the N.C. Southeast Partnership. Read more.