Economic development roundup: Lumber demand leads to $200M investment in North Carolina sawmill

(The Center Square) – Forest products manufacturer Roseburg Forest Products will invest $200 million to develop a sawmill operation in Weldon, North Carolina, Gov. Roy Cooper’s office said.

The investment is expected to create 137 jobs in Halifax County. Oregon-based Roseburg owns and manages 600,000 acres of timberland in Oregon and the southeastern U.S., including in North Carolina.

“Low interest rates, a surge in home remodeling, and growing demand for single-family housing are pushing the industry to increase domestic lumber production capacity as quickly as possible,” Roseburg President and CEO Grady Mulbery said in a statement. “This new mill is an exciting strategic growth opportunity that integrates well with our other North American operations and client base.”

The project could create a potential annual payroll effect of more than $6.9 million a year, Cooper’s office said. Roseburg 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 Roseburg up to $2.1 million.

The project is estimated to grow the state’s economy by more than $511 million, Cooper’s office said.

Lotus Bakeries: The snacks provider will invest $62 million to expand operations in Mebane. The investment is expected to create 90 jobs in Alamance County. Lotus will receive a performance-based One North Carolina Fund grant of $180,000 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.

KNOLL America: The conveyor and filtration systems producer will invest more than $7.8 million to build a U.S. headquarters in Gaston County. The investment is expected to create 31 jobs at the Apple Creek Corporate Park facility. KNOLL will receive a performance-based One NC Fund grant of $75,000 to help with the expansion if it meets job creation and capital investment targets.

Precision Swiss Products: The aerospace, medical device and semiconductor precision parts manufacturer will invest more than $9.3 million to locate its headquarters at the International Logistics Park shared by Brunswick and Columbus counties. The investment is expected to create 125 jobs. Precision Swiss Products will receive a JDIG over a 10-year term. Based on new tax revenues generated by new jobs, the JDIG agreement authorizes reimbursement to Precision Swiss Products up to $1.8 million.

Aeronautical Systems Incorporated: The engineering, manufacturing and maintenance, repair and overhaul services provider for military platforms will invest $5.6 million to expand in New Bern. The investment is expected to create 30 jobs in Craven County. Aeronautical Systems Incorporated will receive a performance-based One NC Fund grant of $75,000 to help with the expansion if it meets job creation and capital investment targets.

Elkay Manufacturing: The stainless steel sink manufacturer will invest $5.5 million to expand in Lumberton. The investment is expected to create 20 jobs in Robeson County. Elkay will receive a performance-based One NC Fund grant of $50,000 to help with the expansion if it meets job creation and capital investment targets.

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