Owens Corning Invests $120 Million In Advanced Manufacturing Facility In Gaston, North Carolina
Area Development Online News Desk (10/22/2013)
Owens Corning will invest $120 million to establish a new advanced manufacturing operation at the NC Certified Gastonia Technology Park in Gaston County, North Carolina, with plans to create 110 jobs by the end of 2016.
The new facility is expected to be completed by mid-to-late 2015. It will encompass a state-of-the-art manufacturing line, coating capability, and research and development resources with potential for future expansion.
“We appreciate the extraordinary support provided by the State of North Carolina, Gaston County and the city of Gastonia throughout the selection process,” said Group President of Owens Corning’s Composite Solutions Business Arnaud Genis. “Gastonia provides a great foundation for our new glass non-woven facility with its location near the Charlotte and Research Triangle regions, where there are particular concentrations of skills needed for this business; its proximity to key customers; and its attractive business environment.
“The Gastonia operation will support growing customer demand for glass non-woven products serving the global building materials market, complementing our existing facilities in Europe and North America, and enhancing Owens Corning’s leadership position in the provision of glass non-woven technologies,” he added.
This Gaston County facility will enable Owens Corning to expand its glass non-wovens business in North America. “Owens Corning already has a presence at various facilities throughout the state, and we’re thrilled it chose to locate a new segment of its business with us,” said Gov. Pat McCrory. “Global industry leaders know that North Carolina offers them a strong business climate and skilled workforce, which is what companies like Owens Corning need to succeed.”
The project was made possible in part by an award to Owens Corning from the state Job Development Investment Grant program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant.
Under the terms of the company’s JDIG award, Owens Corning is eligible to receive up to 10 annual grants equal to 75 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over 10 years, the JDIG award could yield aggregate benefits to Owens Corning of up to $1.69 million upon creation of 110 new jobs.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Community Colleges, Gaston County, City of Gastonia, Gaston County Economic Development Commission, Gaston College and PSNC Energy.