Corning to Invest $275M, Create 428 Jobs in NC Expansions
Corning, the global materials science company known for its glass and ceramics, will create 428 jobs over three years in North Carolina by investing $275 million in a manufacturing plant expansion in Durham County and a new warehouse in Edgecombe County.
The company will create 317 new jobs in Durham with a $189 million investment and 111 jobs in Edgecombe with an $86 million investment. Both facilities will support Corning’s new pharmaceutical glass packaging product, Valor Glass, and other businesses in the state and elsewhere.
“This decision to bring new jobs to both Eastern North Carolina and the Triangle demonstrates confidence in workers in both the rural and urban parts of our state to produce and distribute this groundbreaking new product,” North Carolina Gov. Roy Cooper said in a news release announcing the expansion.
Corning said its Valor Glass packaging, introduced in July, offers superior chemical durability, strength and damage resistance for use as injectable drug vials.
Although salaries of the new jobs will vary by position and location, the average wage will be $65,999 in Durham and $33,771 in Edgecombe. Both are consistent with average wages in each location.
The N.C. Department of Commerce and the Economic Development Partnership of North Carolina led the state’s support for the company’s expansion. The North Carolina Biotechnology Center provided an Economic Development Award to support the project.
Also partnering on the project were the state’s General Assembly, the North Carolina Community College System, Duke Energy, Dominion Energy, Durham County, the Edgecombe County Board of Commissioners, Durham Technical Community College, Edgecombe Community College, the Greater Durham Chamber of Commerce and the Carolinas Gateway Partnership.
Corning’s projects in Durham and Edgecombe counties will be supported by two Job Development Investment Grants (JDIGs) approved by the state’s Economic Investment Committee. Over the course of the 12-year terms of each grant, the project will add an estimated $1.157 billion to North Carolina’s economy.
Using a formula that considers new tax revenues generated by the new jobs, the JDIG agreement for the Durham County location authorizes the potential reimbursement to the company of up to $3.2 million, spread over 12 years. The grant is contingent upon Durham County offering local incentives.
The JDIG for the Edgecombe County location authorizes the potential reimbursement to the company of up to $1.2 million.
State payments will be made only after job-creation and investment targets have been met and verified by the departments of Commerce and Revenue.
Corning chose North Carolina for the new investments over South Carolina, which offered $79 million in incentives for the two projects, according to the Commerce Department.
Corning employs about 4,000 North Carolinians at sites in Concord, Durham, Hickory, Wilmington and Winston-Salem. Worldwide, the New York-based company has more than 40,000 employees.