ROCKY MOUNT, N.C. — Gov. Mike Easley on Thursday announced the development of Ford's Colony at Rocky Mount, a retirement community projected to create 5,765 new jobs during the next 10 years.

"This announcement is proof that companies and developers are taking note of our state's superior business climate and quality of life," Easley said. "This project is a win-win for everyone by creating quality jobs, new revenue for the area and providing a place where our senior citizens can call home while they enjoy their golden years."

Through a joint partnership, Realtec Inc. and the Belmont Co. will build Ford's Colony, a premiere retirement community that will include 1,000 new homes, a golf course and a five-star restaurant.

Easley projected that, during the 10-year development period, Nash County and the state are expected to see the following benefits as a result of this project:

Ford's Colony will receive $1 million in city and county grants, including $500,000 from Rocky Mount and $500,000 from Nash County.

The developer said residents of the new community also will benefit from the state's top-ranked colleges and universities. The developer is working with area colleges to provide evening classes and seminars for their residents.

"This area is progressive with its investments in education, the arts and the continued vision for the redevelopment of its downtowns," said Drew Mulhare, Realtec, Inc., vice president of operations. "The state, county and city leaders and their staff are professionals and have been the most hospitable with us at every level."

This development will be similar to

Ford's Colony at Williamsburg, Va.,

which has received praise for its leadership in community association operations and environmentally sensitive development.