SynergyLabs Eyes Hildebran, North Carolina, for Manufacturing Plant
With headquarters in Fort Lauderdale, Florida, SynergyLabs is a “concept-to-shelf” manufacturer of more than 150 branded and private brand products for pets. The company sells and distributes products across pet-specialty, veterinary, grocery, farm and feed, mass-merchandisers, and big-box channels in over 50 countries worldwide. The company’s pet merchandise lines include grooming aids, stain & odor products, training aids, flea & tick controls, and nutritional supplements.
“Pets are family too, and we are committed to providing pet parents with world-class products that deliver the same high levels of quality they’d provide other family members,” said Richard Ticktin, Founder & CEO of SynergyLabs. “North Carolina’s reputation for manufacturing excellence gives us complete confidence we’ll be able expand our operations while maintaining the high standards our customers have come to expect. We are so pleased to call North Carolina home.”
The new company’s project in Burke County, backed by SynergyLabs LLC, will be facilitated, in part, by a Job Development Investment Grant approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project will grow the state’s economy by an estimated $968 million. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $2,081,700, spread over 12 years.
State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
“North Carolina is the number one manufacturing state in the southeast for a reason,” said North Carolina Commerce Secretary Anthony M. Copeland. “Our list of advantages starts with North Carolina’s high-quality workforce, which provides the skills companies need for advanced manufacturing operations.”
The North Carolina Department of Commerce and the Economic Development Partnership of N.C. led the state’s support for the company’s decision.
“North Carolina offers high-tech manufacturers like SynergyLabs the right ingredients for success, from our skilled workers to our transportation networks.” said Governor Roy Cooper. “We are excited to see this infusion of jobs in Burke County, and will continue to work to bring jobs and economic growth to our state’s rural communities.”
Because SynergyLabs chose a location in Burke County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving as much as $231,300 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 2 county such as Burke, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state. More information on the state’s economic tier designations is available here.
Partnering with N.C. Commerce and the EDPNC on this project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Department of Agriculture, Western Piedmont Council of Governments, Burke County, the Town of Hildebran, and Burke Development, Inc.
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