(The Center Square) – More than $22 million in state and local grants are ticketed for SCHOTT Pharma’s new $371 million syringe plant in North Carolina.
The state Department of Commerce, during Monday’s meeting of the Economic Investment Committee, said the plant in Wilson is expected to create 401 new jobs. The company’s North American operations has two facilities in Pennsylvania, and one each in Indiana, Kentucky, New York and Massachusetts.
“After conducting a nationwide search for a site that would give a campus-like option, Wilson County was chosen as a primary location to support our growth in the U.S.,” Christopher Cassidy, president of SCHOTT North America, said in a statement. “The local talent pool combined with the proximity to the Research Triangle area, which hosts numerous universities, pharma companies, and research institutions, are ideal factors for the future operation of the company.”
The state grants could total $6.4 million and local government contributions $16.2 million. At its Monday meeting, the committee unanimously approved a state Job Development Grant for $4.9 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,” the state said in a news release.
The cost of the grants will be offset by increased tax revenue, the state said.
“The project’s projected return on investment of public dollars is 221%, meaning for every dollar of potential cost to the state, the state receives $3.21 in state revenue,” the state said.
The Anderson and Greenville area of South Carolina was the other finalist for the project, state leaders said.
Average annual wages are projected to be $57,868, slightly above Wilson County’s $52,619 average, according to the state.
In a statement, Gov. Roy Cooper said, “From our expertise in biomanufacturing to the proven education and training systems that are critical for workforce development, global companies recognize North Carolina’s clear advantages as a place to do business.”