CommScope Expands Catawba County, North Carolina, Operations
This investment will increase the company's capacity to produce fiber optic cable.
“CommScope is in the business of providing connectivity solutions, and we are proud to produce the fiber cables that help ensure all Americans have access to Broadband, right here in the State of North Carolina,” said Chuck Treadway, President & CEO of CommScope. “We appreciate our long-standing relationship with the State and Catawba County. This investment and jobs creation over the next four years will continue to keep the focus on North Carolina as the fiber cable hub of the U.S.”
The project will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by more than $834 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 $1,899,900 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.
“Broadband is as critical infrastructure as any other utility and our workforce, education and economic prosperity depend on it,” noted N.C. Commerce Secretary Machelle Baker Sanders. “As a North Carolina company and leader in cable production, CommScope knows the value of doing business in our state. I’m committed to providing the work and services that will enable this company and other innovators to continue advancing technology and high-speed internet for underserved communities.”
Because CommScope chose to expand in Catawba County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $211,100 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.
"CommScope's decision to invest in our community is a testament to the favorable business climate and skilled workforce we have in Catawba County,” added Frank Young, Chair of the Catawba County EDC Board of Directors. “We are confident that this expansion will stimulate further economic growth, attract more talent, and enhance the region's reputation as a hub for cutting-edge technology companies."
CommScope develops, manufactures, installs, and supports network and hardware infrastructure for a digital society, such as the high-speed internet that connects people and places around the world.
In addition to Catawba County, other key partners in the project include the North Carolina Department of Commerce, Economic Development Partnership of North Carolina (EDPNC), and Catawba County Economic Development Corporation.
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