Belmont, North Carolina - Business and Industry

Business and Industry

The textile industry was once the core of Belmont's economy, but due to most textile facilities moving overseas, Belmont's motto "The City of Diversified Textiles" is no longer relevant. The large textile facilities that once employed thousands of local workers have been torn down or converted to other uses including housing. Most of the "mill houses" where employees lived and raised their families for generations have been torn down to make room for new housing developments and some areas have been converted to industrial centers containing various types of businesses. The few remaining plants still in operation run at reduced capacity and employ fewer workers.

Despite the loss of the textile plants, Belmont continues to grow. Its proximity to the large, fast growing city of Charlotte has made Belmont an attractive place to live for new residents moving into the Charlotte area; Belmont's downtown commercial occupancy rate is 100%.

R.L. Stowe Mills, Inc. has its headquarters in Belmont and operates the Helms production facility. Gastonia-based Parkdale Mills currently operates two plants (Plants No. 15 and 61) and its Fiber Research Center in Belmont.

Duke Energy operates the G. G. Allen Steam Station on Lake Wylie (the Catawba River) south of Belmont. First built in 1957, the Allen Station a five-unit 1,140-megawatt coal-fired power plant.