(The Center Square) – Ranked among the best business-friendly states in the nation, North Carolina is welcoming more this week – and notably watching as Apple’s half-billion dollars plan in the Research Triangle Park is paused.
Novo Nordisk on Monday said it would invest $4.1 billion for a second fill and finishing manufacturing facility in Clayton. The company produces injectable treatments for people battling obesity and other chronic disease.
Butch Lawter, chairman of the Johnston County commissioners, said the community was glad to welcome the company 31 years ago, its new facility in 2016, and another 1,000 new jobs with this investment. Another facility is in Durham.
An estimated 2,500 North Carolinians are employed by Novo Nordisk. Incentive grants, though not specified, were provided by Johnston County in an amendment to a 2022 pact spanning 12 years.
Average pay for the jobs being created is $69,000, about 36% higher than the county average according to the Department of Commerce. The department hasn’t commented on the development, or whether it intends to extend an incentive. It went into executive session at the end of a meeting Tuesday, a pattern for announcing a called meeting and approval of a project.
Apple, planning a 3,000-job, $552 million campus in the Research Triangle Park since 2021, is yet to start construction. The California-based company has confirmed a pause on the project, and a dedication to its completion. Speculation for the reason has landed around artificial intelligence technology as an emerging technology.
On Wednesday, a $75,000 grant from the One North Carolina Fund was tied to the relocation of Excel Interior Doors to Winston-Salem. It’s a new East Coast location move to bring headquarters and a manufacturing facility.
Excel and state officials say $10.5 million will be invested by the company creating 37 new jobs, and bringing payroll impact for the region to $2.38 million. The state touts average annual wage of $64,474 against Forsyth County average of $60,038.
On Tuesday, a performance-based grant of $50,000 from the One North Carolina Fund was tied to Nucor Rebar Fabrication’s expansion in Lexington. The concrete reinforcing steel fabricator is building a new facility adjacent to a steel rebar micro mill.
Nucor and state officials say $20 million is being invested by the company, creating 25 new jobs, and bringing payroll impact for the region to $1.6 million. The state says average annual wage will be $65,000, and offered comparison to Davidson County’s $51,201.
The Commerce Department usually announces incentives in ties to new jobs businesses will bring to the state, announcing the average hourly wage for the new jobs and comparing it to the median hourly wage of the county.
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.
