3 deals heat up NC economic rebound: More jobs, corporate HQ, $500M in investments

RALEIGH – North Carolina’s economy – still rebounding from the COVID-19 pandemic – is getting a boost from three significant new jobs and corporate investments announced Tuesday.

The new deals are the latest parts of an ongoing economic expansion in North Carolina. Nearly 100 new jobs announcements have been made across the state over the past year, according to data compiled by WRAL News. Those represent in total some 25,000 jobs.

Durham County’s new HQ

Durham County is not only getting more than 400 new jobs – including some 200 being moved from San Francisco – but also a high-tech firm’s corporate headquarters. Smart Wires, a startup focusing on power grid technology, also will open a research and development center in the Triangle.

Minimum pay for the jobs to be added in Durham County will pay a minimum wage of more than $118,000.

The firm’s CEO cited a variety of reasons for making the move, including what he called “ideal support for rapid and sustained growth.”

Roxboro’s new plant

Nearby Person County is part of the new job boost, landing an expansion and 300 jobs from furniture manufacturer Polywood. That company already operates a factory in Roxboro, and the new building will be built adjacent to it.

“We are excited to expand our operations in North Carolina,” said Doug Rassi, CEO of Polywood, in a statement. “The community has embraced Polywood and we have been able to build an excellent workforce. We look forward to continuing our growth in the state and in Person County.”

New ‘beverage hub’ grows again

Then there’s the rapidly evolving beverage manufacturing hub in Concord, the county seat for Cabarrus County. Ball Corporation will manufacture beverage containers at a huge new facility covering 800,000 square feet.

“Among its customers will be Red Bull, which recently announced a new plant at the Concord site.

“With Ball’s commitment, the three companies [including Rauch] at the new beverage manufacturing hub will create more than 600 jobs and an investment exceeding $1 billion by 2027,” the Department of Commerce noted.

Tax benefits: around $15 million

Combined, the three projects approved by the North Carolina Department of Commerce’s Economic Investment Committee represent some 1,000 jobs and $500 million in investments.

In return, the companies signed agreements providing some $15 million in state tax incentives plus local tax breaks and community college training.

Here are the stories reported earlier today with more details on each project: