Corning Optical Communications Expands Facilities In Hickory And Winston-Salem, North Carolina
“Corning is in its 45th year of delivering high-performance fiber optic solutions to global network operators,” said Clark S. Kinlin, Executive Vice President, Corning Optical Communications. “This long history in North Carolina – and our planned expansions – would not be possible without the ongoing support of local, county, and state government entities. This decision is a win/win for the Hickory and Winston-Salem communities and for our highly skilled, diverse, and dedicated employees who work and live there.”
“Corning’s growth in North Carolina underscores the value of North Carolina’s strong support for our existing businesses,” said Commerce Secretary John E. Skvarla, III. “In partnering with global manufacturers like Corning to connect with strategic business objectives, North Carolina wins jobs and investment that make our economy arguably the best-performing in the nation.”
Corning’s expansions in Catawba and Forsyth counties will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee today. Under the terms of the company’s JDIG, Corning is eligible to receive up to $1.93 million in total reimbursements.
Payments will occur in annual installments over 12 years pending verification by N.C. Commerce and N.C. Revenue that the company has met incremental job creation and investment targets. JDIGs reimburse new and expanding companies a portion of the newly created tax-base with the goal of increasing the overall tax benefit to the State of North Carolina. The state reimbursement is contingent upon local participation from the county or municipality.
Numerous partners joined with N.C. Commerce and the EDPNC in supporting Corning’s expansion. They include the North Carolina General Assembly, the North Carolina Community College System, Catawba County, Forsyth County, the City of Hickory, the City of Winston-Salem, the Catawba County Economic Development Corporation, and the Winston-Salem Chamber of Commerce.
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