K3 Enterprises, INC, a local, woman-owned defense contractor, is moving forward on a substantial renovation of its Fayetteville headquarters that will create 32 high-paying jobs by mid-2018. This project will include a capital investment of $2,177,032 which was made possible through a $400,000 Rural Economic Development Grant from the NC Department of Commerce’s Building Reuse Program and a 5% match from the City of Fayetteville. This funding will support K3’s reuse of a 54,000 Square-Foot building off Cumberland Street that previously housed a Sears warehouse.
“We appreciate the City and State having the confidence in K3 and approving us for this endeavor. We have always tried to improve the community in everything we touch and hope to continue to do so with this opportunity.” said Rhonda L. Kent, the President of K3 Enterprises, Inc.
K3 specializes in technology and communications for the Department of Defense, State of North Carolina, and the private sector. The new employees will include analysts, technology experts, managers and support staff, and will receive an average annual wage of over $91,000. This is more than double Cumberland County’s median annual wage, which as of 2015 was $41,683 according to the U.S. Census Bureau.
“This partnership is an example of how we are working to bring jobs to our residents, and the City Council and I are very excited that our efforts are being rewarded,” said Fayetteville Mayor Nat Robertson. “Along with the major economic impact of these high-paying jobs, this expansion keeps more brilliant minds transitioning from Fort Bragg here in Fayetteville after they complete their active duty service to our Country.”
Working through their existing industry program, the staff of the Fayetteville Cumberland Economic Development Corporation was under an extremely short deadline when they brought the project to the City for consideration. Robert Van Geons, President & CEO of the FCEDC said, “The immediate support we received is what made securing these jobs and this investment possible. This is a great example of how collaborative economic development efforts can support existing industry.”
K3 has been awarded a five-year Department of Defense contract for program services that requires that the company provide a facility that includes at least 8,800 square feet of working space for their staff. Renovations and hiring will begin immediately with the new operations commencing in 2018.
Commenting on the importance of local industry growth, Jack Rostetter, the Chairman of the FCEDC Board of Directors said, “Supporting our existing companies and recruiting new industries to our community is our top priority in economic development. We are looking forward to more success stories like K3 in the near future.”
ABOUT K3: Founded in 2005, K3 Enterprises is a leader in the multi-media training arena, contracts with and provides a variety of services for the DoD, State, and private sector, and has been awarded Prime and Subcontractor contracts since its conception. With a foot print around the world, its staff know their way around the DoD community. K3 was awarded its ISO 9001:2000 Certification in 2008 and won the Top 300 Small Business of the South award in 2011. That same year, K3 was also a INC 5000 Honoree (#559) and received its Green Business Certification. K3 continues to expand its vision and expectations for the years to come.