Pharmaceutical Packaging Spurs Cornings Growth In Durham Carboro
Corning Inc. (NYSE:GLW) plans to create 428 jobs over three years in North Carolina, with a new distribution facility in Edgecombe County and an expansion of manufacturing operations in Durham, officials said Wednesday. Corning, a world leader in materials science, said the operations will support the company’s new pharmaceutical glass packaging product, Valor Glass, and potential growth from other Corning businesses in North Carolina and elsewhere. The $86 million Tarboro warehouse will create 11 jobs, while the $189 million invested in the Durham manufacturing site is expected to create 317 jobs, officials said.
“We are excited to expand our operations in North Carolina. In Edgecombe County, we plan to build a state-of-the-art warehouse facility,” Eric Musser, executive vice president of Corning Technologies and International, said at a news conference at Edgecombe Community College. “We also plan to expand an existing Corning facility because the talented local workforce possesses a high level of commitment and professionalism.” Corning Valor Glass packaging, introduced in July, offers superior chemical durability, strength and damage resistance, the company said, adding that those qualities enable increased throughput and more reliable access to state-of-the-art medicines for patients, while maintaining a high level of quality assurance for pharmaceutical companies.
Although salaries will vary by position and location, the average wage will be $65,999 at the proposed facility in Durham County and $33,771 in Edgecombe County, in line with average wages in each location. The state’s Economic Investment Committee approved two Job Development Investment Grants for Corning to assist with the two projects. Over the course of the 12-year terms of each grant, the JDIG agreement for the Durham County location authorizes the potential reimbursement of up to $3,215,250 in employee withholding taxes. The grant is contingent upon Durham County offering local incentives. The JDIG associated with the Edgecombe County location authorizes the potential reimbursement of up to $1,236,000. Corning must meet annual investment and hiring targets to obtain the funds.
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