Prescient Bringing 205 Jobs To North Carolina

The construction industry innovator will invest nearly $19 million in a new East Coast operations center in Alamance County, NC.


https://businessfacilities.com/2016/08/prescient-bringing-205-jobs-to-north-carolina/
The construction industry innovator will invest nearly $19 million in a new East Coast operations center in Alamance County, NC.
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Prescient Bringing 205 Jobs To North Carolina

The construction industry innovator will invest nearly $19 million in a new East Coast operations center in Alamance County, NC.

Prescient Bringing 205 Jobs To North Carolina

Prescient will establish a 205-job operations center in North Carolina’s Alamance County to serve its East Coast customer base. The Colorado-based integrated manufacturing and design technology company will invest more than $18.8 million at N.C. Commerce Park near Mebane.

Alamance County NC
Gov. Pat McCrory announces Prescient’s $19M investment in North Carolina.

Prescient will bring design, manufacturing and other business operations to the N.C. Commerce Park, a 1,200-acre business property developed collaboratively by Alamance County with the cities of Graham and Mebane. The company plans to employ designers, project managers, installers and other skilled positions at the new facility.

“Developers, architects, engineers and general contractors in the multi-unit housing industry are seeing the benefits of our platform, and this facility will allow us to efficiently service our customers up and down the I-95 corridor from Maine to Miami by being closer to their markets,” said Satyen Patel, chairman and CEO of Prescient. “The demand for our system across the Mid-Atlantic, the South and South Eastern U.S. continues to grow, and we are looking forward to a long and productive partnership.”

Prescient provides the architecture, engineering and construction (AEC) industry with an innovative design platform that offers a faster and more cost-effective alternative to conventional building structures. The system, which now has 13 patents and 62 on file internationally, is making inroads in the multi-unit building segment, which includes apartments, student housing, senior living and hotels. The company has numerous projects already completed in Colorado, Florida and Texas. Several more are underway in these states as well as ones in Georgia, Illinois, Indiana, Kentucky, Missouri and Nebraska.

“Once again, an innovative manufacturing leader has chosen North Carolina to take advantage of our outstanding business climate,” said Governor Pat McCrory. “I love companies that build things and I look forward to the valuable contribution Prescient will make to our state’s economy and business community.”

“North Carolina’s outstanding transportation systems and trainable workforce put us on the short list for regional headquarters projects,” said North Carolina Commerce Secretary John E. Skvarla III. “Our strategic mid-Atlantic geography will put Prescient within convenient reach of customers across the eastern United States.”

Prescient’s arrival in Alamance County will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Under the terms of the company’s JDIG, the company is eligible to receive up to $1,964,700 in total reimbursements. Payments will occur in annual installments over 12 years pending verification by N.C. Commerce and N.C. Revenue that the company has met incremental job creation and investment targets. JDIGs reimburse new and expanding companies a portion of the newly created tax-base with the goal of increasing the overall tax benefit to the State of North Carolina.

By law, JDIG projects must result in a net revenue inflow to the state treasury over the life of the award. In the case of JDIG-supported projects in Tier 2 counties such as Alamance, 15 percent of the award is directed to the state’s Industrial Development Fund – Utility Account to help finance economic infrastructure in less populated Tier 1 and Tier 2 counties. Prescient’s new facility could provide as much as $218,300 in new funds for the Utility Account.

Relocating or Expanding Your Business In North Carolina

Considering North Carolina for your company’s relocation or expansion project? Check out Business Facilities’ North Carolina Incentives and Workforce Development Guide.

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