Latest news with #JDIG
Fibre2Fashion
29-05-2025
- Business
- Fibre2Fashion
Pelsan Tekstil to invest $82.6 million in first US plant
Pelsan Tekstil, a global leader in breathable film technologies for the hygiene and medical sectors, will establish its first production facility in the United States in Wayne County, creating 216 jobs. The company will make an $82.6 million investment in Goldsboro. Pelsan was established in 2006 as a subsidiary to the Hassan Group, which has more than 80 years of experience in nonwoven and polymer film technologies. Pelsan was the first company in Turkey to manufacture breathable polyethylene films and today offers one of the industry's most advanced product portfolios. The company's project in Goldsboro establishes its first US facility for manufacturing various lines of breathable films for hygiene and medical applications, enabling Pelsan to respond more efficiently to rising demand across North America. Pelsan Tekstil will invest $82.6 million to open its first US facility in Goldsboro, North Carolina, creating 216 jobs. Supported by a JDIG grant, the project is expected to boost the state's economy by $719.5 million over 12 years. The expansion marks a major strategic move for Pelsan as it strengthens its presence in North America's hygiene and medical sectors. 'This expansion is a major strategic milestone for us,' said Ali Sisman, CEO of Pelsan Tekstil . 'Our decision to invest in North Carolina underscores our belief in the region's strong workforce, robust infrastructure, and its alignment with our values of innovation and collaboration. This facility represents a significant new chapter in our company's journey. We are at a pivotal moment – at the intersection of life and innovation. This journey of transformation and progress is not just ours, but one we share with every individual seeking change, growth, and a better tomorrow.' 'We continue to see strong interest in our state from international companies looking to expand into North America,' said commerce secretary Lee Lilley . 'Our business-friendly reputation and proven competitive advantages continue to attract top-tier companies like Pelsan from around the globe.' Although wages will vary depending on the position, the average salary for the new jobs will be $48,789. The current average wage in Wayne County is $46,211, the office of the governor Josh Stein said in a press release. The company's project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state's economic investment committee earlier. Over the course of the 12-year term of this grant, the project is estimated to grow the state's economy by more than $719.5 million. Using a formula that takes into account the new tax revenues generated by the new jobs and the capital investment, the JDIG agreement authorises the potential reimbursement to the company of up to $2,065,000, 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. The project's projected return on investment of public dollars is 115 per cent, meaning for every dollar of potential cost, the state receives $2.15 in state revenue. 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. "The new jobs and the investment into Goldsboro will bring economic growth and stability to Eastern NC,' said senator Buck Newton . "On behalf of Wayne County, we welcome Pelsan to our community and we will continue to support this company as it grows. I am looking forward to witnessing the benefits this project will bring." Fibre2Fashion News Desk (RR)
Yahoo
29-01-2025
- Business
- Yahoo
Aircraft engine manufacturer to give storm-ravaged Buncombe County an economic lift
Pratt & Whitney employee works on aircraft engine. (Photo: Pratt & Whitney) Pratt and Whitney's announced expansion of its turbine airfoil manufacturing plant in Buncombe County will give the region a much-needed economic boost, Gov. Josh Stein said on Tuesday. The expansion will create 325 additional jobs and includes an additional investment of $285 million in Asheville, the governor announced. 'Western North Carolina's economy took it on the chin after Hurricane Helene, yet still it remains an incredible place to work and do business,' Stein said in a statement. 'Pratt & Whitney clearly sees the opportunities in North Carolina and the strength of our highly skilled workforce.' Pratt & Whitney is a world leader in the design, manufacture, and service of aircraft engines and auxiliary power units. The company's Asheville facility produces high-tech turbine airfoils, which are an important component in aircraft jet engines. The company's new project will expand its production capacity to meet growing customer demand, Pratt & Whitney officials said. 'This latest round of investment allows us to add critical process elements for the manufacture of turbine airfoils and increase the overall delivery output of this facility, enabling us to deliver on our customer commitments while creating hundreds of new jobs in the Asheville community,' said Dan Field, Asheville general manager for Pratt & Whitney. The N.C. Department of Commerce led the state's support for the company during its site evaluation and decision-making process. The average salary for the new positions will be $62,413, compared with an average Buncombe County wage of $55,416. The new positions will bring an annual payroll impact to the community of more than $20 million per year. 'The aviation industry is a key driver of North Carolina's economic success and Pratt & Whitney's decision strengthens our aerospace ecosystem substantially,' said Commerce Secretary Lee Lilley. 'We will continue to invest in support systems, like our community colleges and universities, that help employers like Pratt & Whitney succeed in our state—and bolster Western NC's economy.' The company's project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee. Over the life of the 12-year grant, the project is estimated to grow the state's economy by nearly $2.1 billion. Using a formula that takes into account the new tax revenues generated by new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $4.2 million 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. Because Pratt & Whitney is expanding in Buncombe County, which is classified by the state's economic tier system as Tier 3, the company's JDIG agreement also calls for moving $1.4 million into the state's Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Tier 3 counties are those with the least amount of economic stress. The Utility Account helps counties that are more economically challenged.
