Polywood is investing $61.6 million to build additional capacity at its manufacturing and distribution center in Person County in Roxboro, N.C., and will create 300 jobs over the next five years.
Salaries of the additional jobs will vary by position, and once all positions are filled the total payroll impact is expected to reach more than $15 million.
“Innovative companies like Polywood thrive in rural North Carolina,” North Carolina’s Governor Roy Cooper says. “This additional investment in Person County proves our state has what it takes to support the growth and business needs of our manufacturers, both today and in the future.”
Polywood’s project will be facilitated by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $681.4 million.
The JDIG agreement authorizes the potential reimbursement to the company of up to $3,008,700, spread over 12 years. Over those 12 years, the state will see net direct revenue from the project in excess of $14.8 million.
“We are excited to expand our operations in North Carolina,” says Doug Rassi, CEO of Polywood. “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.”
The company’s JDIG agreement could also move as much as $334,300 into a fund that helps rural communities across the state attract business in the future. Local communities in more economically challenged areas of the state use these grants to build public infrastructure projects, which can improve a community’s ability to attract companies to their regions.
“North Carolina’s leadership in manufacturing shines bright once again with today’s decision,” says North Carolina Commerce Secretary Machelle Baker Sanders. “Polywood’s new jobs and new investment are the fruits of our state’s hard work to develop a skilled, diverse workforce and a top-flight business climate.
