Impact Plastics, a midsize sheet extruder serving the thermoforming industry, will build a plant in North Carolina, starting a base of operations in the South, according to local officials.
The company, headquartered in Putnam, Conn., will invest $3.5 million to $4 million to construct the plant near Hamlet, N.C., and add equipment, said Ron Munnerlyn, development director for the Richmond County Office of Development in Rockingham, N.C.
The company, founded in 1971, extrudes sheet for medical packaging, point-of-purchase displays and various thermoformed consumer products. The company has many customers in the South, Munnerlyn said.
The 50,000-square-foot facility will be in southeast North Carolina, about eight miles from the state border.
As part of the incentive package, the company did not have to pay for the 45-acre site or the adjacent rail sidings, officials said.
Impact Plastics plans to start with about 25 workers and double that workforce within three years, Munnerlyn said.
Construction is to start in late summer, with the facility slated to open by the year's end. The plant will be Impact's second.
Officials with Impact Plastics, including founder and Chairman Steve Ryan, were unavailable for comment. In a news release, Ryan said company sales have tripled since 1994, exceeding expectations.
The company will receive $16,500 in state tax credits for every job created, a 7 percent state tax credit on equipment, and a Richmond County grant equal to 50 percent of the company's property taxes paid for five years, Munnerlyn said.
The state also is providing $1,000 worth of training for each worker, Munnerlyn said. The region is considered a Tier 1 county for North Carolina, meaning it is among the most economically distressed areas of the state, he said.
``They're in a county where we've lost 25,000 jobs over 10 years in the textile industry,'' Munnerlyn said.
``About 9 percent of the workforce has been lost. The [county commission] worked proactively to build infrastructure to attract small to medium-sized business here.''
Impact Plastics extrudes monolayer and multilayer sheet, running custom colors for some cosmetics packaging applications. The company currently has at least six Battenfeld Gloucester lines that can produce upward of 15 million pounds of sheet annually, according to a Web site for the city of Putnam.