Alamance Foods Expands Graham, North Carolina, Operations Center
The company will expand warehousing and production facilities for its aerosol whipped cream product line.
"Today, companies have many locations to choose from when considering an expansion, but North Carolina’s competitive advantages always shine through,” said Governor Roy Cooper. “It’s great to see a home-grown company like Alamance Foods expand in our state, thanks to our roads, airports, rail and ports, our strong communities and our dedicated, well trained workforce."
Alamance Food’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG). Over the course of 12 years, the project is estimated to grow the state’s economy by $651 million. Using a formula that takes into account the new tax revenues generated by the new jobs, the agreement authorizes the potential reimbursement to the company of up to $611,100, spread over 12 years.
Payments for all JDIGs 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.
Because AFI chose a site in Alamance County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $67,000 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business.
"North Carolina leads the Southeast in manufacturing excellence,” noted North Carolina Commerce Secretary Machelle Baker Sanders. “We welcome the vote of confidence Alamance Foods’ expansion represents, and their company can depend on the strength and ingenuity of the North Carolina workforce to take them to the next stage of their growth.”
Alamance Foods manufactures branded and private-label water, flavored drinks, and freeze pops under brand names such as Freeze Pops, Fun Pops, and Happy Drinks. The company’s branded water is sold under the Triton Water label and its aerosol whipped cream under the Classic Cream brand.
In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina (EDPNC), other key partners on this project were the North Carolina General Assembly, the North Carolina Community College System, Alamance County, the City of Burlington and the Alamance Chamber.
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