IQ Fibers, a start-up cellulose fiber manufacturer, selected Northampton County to establish its first manufacturing operation in Pennsylvania. The project will support the creation of 43 jobs.
The company will lease a 45,000-square-foot building in West Easton Borough and has committed to investing at least $5.4 million into the project. The project, which is expected to create 43 new, full-time jobs, includes leasehold improvements and the purchase of new machinery and equipment.
“This is an exciting day for the team here at IQ Fibers,” said George Day, CEO of IQ Fibers. “We are extremely proud of our facility and the highly engineered cellulose fiber products we manufacture. With the market demand for more environmentally friendly solutions, we believe this is the right time and place to launch our company. We greatly appreciate the assistance of the Governor’s Action Team and Governor Wolf’s commitment for business growth.”
IQ Fibers received a funding proposal from the Department of Community and Economic Development (DCED) for the project. The proposal includes an $86,000 Pennsylvania First grant, $86,000 in Job Creation Tax Credits to be distributed upon creation of the new jobs, and a $32,550 workforce development grant to help the company train employees.
The company also was encouraged to apply for a $400,000 low-interest loan through the Pennsylvania Industrial Development Authority. The project was coordinated by the Governor’s Action Team, with additional coordination provided through the Lehigh Valley Economic Development Corporation.
“The investments our administration is making in our business sector represent significant opportunities for the commonwealth to grow and prosper,” Governor Tom Wolf said. “Their success will turn into a stronger economy and new opportunities for job creation and retention in Pennsylvania.”
“We’re very pleased that IQ Fibers has decided to establish its first Pennsylvania manufacturing operation here in the Lehigh Valley, where manufacturing is alive and well,” said Don Cunningham, President & CEO of LVEDC. “Manufacturing accounts for $7.4 billion of the region’s $40 billion GDP, making it our second-largest economic sector. We welcome IQ Fibers to our family of manufacturers.”