The Troutman ABC Board is moving ahead with planning for a second location, although no target date for beginning construction has been selected.

The board is watching the progress of residential development in the area and also the state of the economy before making a decision about when to start construction.

The board purchased just over seven acres at the southern end of Flower House Loop and Highway 21 two years ago in preparation for a possible second store. The land was recently released from Mooresville’s jurisdiction, clearing the way for potential annexation and rezoning by the Troutman Town Council at Thursday’s meeting.

A representative of the N.C. ABC Commission has visited the property site and evaluated the land and checked out the mandatory sign that must be posted for 30 days prior to a new store’s construction.

Troutman ABC Board Chair Layton Getsinger has submitted a business plan, projected budget, and other information to the state ABC Commission for consideration and permission for the second store. Getsinger does not expect a response from the commission until March at the earliest.

The Troutman Planning and Zoning Board recommended approval of the annexation and rezoning request at its January meeting. Several residents spoke out about traffic and lighting concerns from the store and an adjacent project where a small shopping center is planned, as well as the need for further opportunities for alcohol consumption in the town.

The current ABC store’s mortgage was paid off in July. The board has since been putting aside the money formerly used for the mortgage, plus the $1,000 extra paid toward principal each month, in a Specific Capital Project Fund account to help pay for the new store. 

The ABC Board currently has $447,779 of the $618,948 of working capital maximum allowed by the ABC Commission. The board also has $281,047 in a savings account.

Getsinger reported that in the second quarter of physical year 2023-2024, the store had net sales of $931,062, which was up only .3 percent over last year’s second quarter. The gross profit was $219,121, with a net profit for the second quarter of $90,410.

The ABC Board distributed $5,130 to law enforcement, $7,182 to the Drug-Alcohol Coalition of Iredell for alcohol education, $13,046 to the town and $13,046 to the nonprofit entities designated by the town from second quarter proceeds.

Getsinger said sales in December were down 4.3 percent over December of 2022. Nearly all of the state’s ABC stores’ sales were down, possibly due to having two less days for sales because of how Christmas and New Year’s fell this year.

Total sales in December were $394,763, with a net profit of $41,052 for that month. December is normally the strongest month for alcohol sales for the store.