Economic development roundup: $19M investment to bring nearly 200 jobs to North Carolina
(The Center Square) – Vitamin and dietary supplements manufacturer Nature’s Value will invest more than $19 million to expand into Winston-Salem, North Carolina Gov. Roy Cooper’s office said.
The investment is expected to create 183 jobs in Forsyth County, with the average annual salary for new positions being $57,669. Cooper’s office said the annual payroll impact would be more than $10.5 million per year.
“This expansion project will help us to be more competitive and allow us to be more accessible to our main customers, while creating employment and economic prospects for the talented North Carolina working community,” Nature Value CEO Oscar Ramjeet said. “We look forward to the opportunities that this expansion project will bring.”
Nature’s Value will receive a Job Development Investment Grant (JDIG) over a 12-year term. Based on new tax revenues generated by new jobs, the JDIG agreement authorizes reimbursement to Nature’s Value up to $1.95 million. The project is estimated to grow the state’s economy by more than $780 million, Cooper’s office said.
Grupporeco: The household appliance components manufacturer will invest $28 million to build its first dishwasher components manufacturing facility in Kinston. The investment is expected to create 110 jobs in Lenoir County. Grupporeco will receive a JDIG over a 12-year term. Based on new tax revenues generated by new jobs, the JDIG agreement authorizes reimbursement to Grupporeco up to $918,000.
Crump Group: The pet treats manufacturer will invest $13.2 million to build its first U.S. production facility in Nashville. The investment is expected to create 160 jobs in Nash County. Crump Group will receive a JDIG over a 12-year term. Based on new tax revenues generated by new jobs, the JDIG agreement authorizes reimbursement to Grupporeco up to $1.64 million.
Harger: The electrical equipment manufacturer will invest $3.2 million to expand operations in Fairmont. The investment is expected to create 20 jobs in Robeson County. Harger will receive a performance-based One North Carolina Fund grant of $75,000 to help with the expansion if it meets job creation and capital investment targets. All One NC grants require a matching grant from local governments.
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