North Carolina Corporate Expansions To Create More Than 250 Jobs

Nucor will invest $350M in Davidson County, SinnovaTek will invest more than $11M in Nash County.

North Carolina Corporate Expansions To Create More Than 250 Jobs

Nucor will invest $350M in Davidson County, SinnovaTek will invest more than $11M in Nash County.


https://businessfacilities.com/2022/04/north-carolina-corporate-expansions-to-create-more-than-250-jobs/
Nucor will invest $350M in Davidson County, SinnovaTek will invest more than $11M in Nash County.

Steel producer Nucor will locate a new micro mill steel plant in Davidson County, NC. The steel producer will create at least 180 jobs in the city of Lexington. Charlotte-based Nucor will invest $350 million to establish the manufacturing site for producing steel bar and rebar.

“We are very excited to grow our steel business here in our home state of North Carolina. The corridor between Washington, DC and Atlanta is one of the fastest growing regions in our nation, and new federal spending for infrastructure will further increase demand for rebar in the region,” said Leon Topalian, President & CEO of Nucor. “Nucor Steel Lexington will produce steel with nearly 100% recycled content, which means our new, modern infrastructure will be made with the cleanest sustainable steel available anywhere in the world.”

North Carolina Corporate Expansions
(Photo: Nucor)

Nucor manufacturers a wide variety of steel and steel products, including carbon and alloy steel sold as bars, beams, sheet and plate, and hollow section tubing, among many other formats. Nucor is North America’s largest recycler, using scrap steel as its primary raw material. Nucor Steel Lexington is estimated to produce as much as 430,000 tons of rebar a year to meet increasing demand for the company’s products.

“Manufacturing is the heartbeat of North Carolina’s economy, thanks to our skilled workers and the workforce training systems that support them,” said Governor Roy Cooper. “Nucor already calls North Carolina home and their decision to expand here is great for our domestic supply chain that supports our fast-growing economy.”

The North Carolina Department of Commerce coordinated the state’s support for the company during its site evaluation and decision-making process.

“North Carolina is the number one state for manufacturing in the Southeast, and companies like Nucor help keep us on top,” said North Carolina Commerce Secretary Machelle Baker Sanders. “Our state’s workforce is also a key reason for our success, and as our First in Talent plan for economic development makes clear, we’re committed to providing our people with the education and specialized training they need to successfully fill jobs like these.”

Nucor’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $1.2 billion. Using a formula that takes into account the new tax revenues generated by 180 new jobs, and a required investment of $310 million, the JDIG agreement authorizes the potential reimbursement to the company of up to $3,335,400, spread over 12 years.

Because Davidson County is classified by the state’s economic tier system as Tier 2, Nucor’s JDIG agreement also calls for moving $370,600 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business.

SinnovaTek To Create 75 Jobs In Nash County

SinnovaTek, a Raleigh-based developer and integrator of advanced food processing equipment and technology, will invest more than $11 million in a 62,500-square-foot shell building in the Middlesex Corporate Center, located in Nash County, NC. The project will be an expansion of the company’s aseptic co-packing operation, FirstWave Innovations, which is focused on enabling new product launches, rapid prototyping, and access to high quality food processing to make nutrient-rich shelf stable foods.

North Carolina Corporate Expansions“We are excited to be part of Nash County’s investment in the Middlesex Corporate Centre, which demonstrates its commitment to economic development with a focus on agriculture-centered investments,” said Michael Druga, President and CEO of SinnovaTek.

“We are looking forward to getting closer to the source of raw materials and working with local growers to supply end use customers so their products can increase the livelihood of all involved parties,” Druga added. “SinnovaTek anticipates robust growth, with a goal of creating a total of 50 jobs in two years and 75 jobs within five years at FirstWave with a capital investment of over $11 million.”

“It is very exciting that SinnovaTek has chosen to locate their FirstWave operations in Nash County,” said Robbie Davis, chairman of the Nash County Board of Commissioners. “This is a great addition to our county industrial base that will continue to diversify the local economy and expand our food processing cluster. We wish them success and growth as they begin their operations in our county.”

New construction on the shell building located in the 378-acre Middlesex Corporate Centre will include a new parking lot and driveways, as well as offices, warehouse, and food production space, all built with FDA-accepted food grade materials and methods. Insulated metal panel interior walls around the process area will create a clean building within the larger facility.

The company’s new location was assisted by a $400,000 grant from the North Carolina Rural Building Reuse program.

“The SinnovaTek announcement is a significant achievement for the company and Nash County,” said Nash County Economic Development Director, Andy Hagy. “This project exemplifies how Nash County’s shell-building program is used to create new economic opportunities in our communities and the county plans to move forward immediately with its next shell building. I congratulate SinnovaTek on their expansion and am proud that the Nash County Economic Development team was able to play a role in their continued success”.

SinnovaTek is the second food processing company location to Nash County within less than a year. The Crump Group, a Canadian company and manufacturer of all-natural pet treats and supplements, purchased the former 190,000-square-foot Carolina Innovation Food Ingredients (CIFI) facility. The Crump Group is creating 160 jobs and investing $20.5 million, according to Hagy.

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