(The Center Square) – Nipro, manufacturer of medical surgical and renal products, has been lured to North Carolina by an incentive package of more than $13 million.
The 70-year-old Japanese company secured a $2.48 million grant from the state toward a $397 million manufacturing center and American headquarters. It is eligible for other assistance such as job training and infrastructure support, bringing the total amount of potential state incentives to $4.16 million. Pitt County previously approved $9 million in incentives.
Nipro, also considerate of Virginia’s Chesterfield County for its location, says it will create 232 new jobs in Greenville.
The North Carolina Economic Investment Committee on Wednesday said the $2.48 million Job Development Investment Grant will be distributed 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 state said in a release.
The new jobs will have average salaries of $56,147 per year, higher than the current Pitt County average of $50,937, the state said.
Economists question the effectiveness of financial incentives to private businesses to expand or come to a new state. The use of hourly wage as an indicator is questioned because salaries of a few corporate leaders can skew the average higher while it would not have the same impact on the median wage.
The release from the state says the project is expected to generate $797 million in economic growth. Greenville is home to ECU Health Medical Center, the leading major health care facility east of Interstate 95 in the state.
The factory will produce medical devices for patients with diabetes, chronic kidney disease, and other renal health issues. In addition, the campus will have a medical training center for health care providers and a customer service center.
“Our close proximity to customers will allow us to better respond to their needs and provide them with timely and effective solutions,” Tsuyoshi Yamazaki, senior managing director of Global Business at Nipro, said in a statement. “Our new facility in Greenville is a major milestone in our sustainability journey, reflecting our commitment to reducing our carbon footprint.”
It is the second Japanese company in as many days to announce expansion plans in North Carolina. On Tuesday, candy manufacturer Morinaga, announced it will launch a $136 million factory expansion in Orange County.
“I’m excited to welcome another advanced manufacturing company to eastern North Carolina,” Gov. Roy Cooper said in a statement. “Not only will Nipro join a Greenville community of health care leaders, it will grow eastern North Carolina’s life sciences prowess with the help of the skilled, dedicated and diverse workforce they need to succeed.”
