7-24-2019 County aims at big business

Posted on: July 24th, 2019 by admin

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July 24, 2019

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By Virginia Annable
vannable@newstopicnews.com

 

Jul 23, 2019 3:23 PM

An international pharmaceutical company is considering Caldwell County for a new manufacturing plant that could bring up to 200 jobs to the area, county officials say.

 

The pharmaceutical manufacturer, whose name was not released and is being referred to only as “Project Vanderbilt,” is looking for a site in North Carolina to build its first manufacturing site in the U.S., said Deborah Murray, the executive director of the Caldwell County Economic Development Commission. The company has looked at sites in Charlotte and three western North Carolina counties, including one in Caldwell that would need extensive renovations, Murray said.

 

“If that particular site is chosen it will require some substantial transformation,” she said.

 

The company would invest about $8 million in the building and equipment and within four years of operation expects to create up to 200 full-time jobs with an average pay of $42,000 a year, Murray said.

 

“It (could) continue to help Caldwell be one of the fastest-growing biotechnology clusters in the state,” she said.

 

The Caldwell County Board of Commissioners voted Monday night to approve job-creation incentives of $2,000 for each job created up to a total of $400,000.

 

The commissioners also approved offering a tax grant that would give back to the company 75 percent of the property taxes it would pay on any new value added to the property. The grant would last for five years.

 

The company is also applying for a state Building Reuse Grant and a state Job Development Investment Grant, in which the state grants companies money for new jobs and investment made over a period of 12 years.

 

Reporter Virginia Annable can be reached at 828-610-8724.

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