Gov. Roy Cooper, on Thursday, announced almost 400 new jobs across a variety of business sectors including the manufacturing and food preparation industries in the state.
RiceWrap Foods Corporation will create 305 new jobs in Granville County building a $9.9 million production facility in Butner for its patent-pending method of producing and delivering rice for sushi, Cooper announced.
“Finding a creative way to solve a problem can spark a new business and create new jobs,” Gov. Cooper said. “Our friendly business climate and dependable workforce give innovative companies like RiceWrap Foods all the ingredients they need to succeed.”
North Carolina has seen a number of businesses moving to the state to take advantage of deep cuts to the state’s corporate income tax, as well as the overall tax reform profile realized over the better part of the last decade after Republicans took a supermajority in the Legislature, and then former Gov. Pat McCrory came into office in 2012.
The project will also be the beneficiary of up to nearly $2 million in Job Development Investment Grants (JDIG) from the state.
The company will receive a grant through the state Economic Investment Committee worth up to $1,896,000, spread over 12 years.
Over the course of the 12-year term of the grant, the project is expected to add an estimated $514 million to the state’s economy.
The amount set to be reimbursed by the state to RiceWrap is derived using a formula that takes into account the new tax revenues generated by the new jobs.
State payments will only occur following verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
Cooper also said that because RiceWrap Foods chose to locate in Granville County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving as much as $632,000 into the state’s Industrial Development Fund – Utility Account.
The utility account helps rural communities finance necessary infrastructure upgrades to attract future business, Cooper said.
Father and son team Richard and Kyle Cronk founded RiceWrap Foods Corporation, through which they have invented a product that allows for consistent preparation of sushi rice in the food service industry.
Rice is a key ingredient in nearly all of the varieties of sushi and true Japanese-trained sushi chefs spend years learning the intricacies of making the rice, Cooper said.
RiceWrap Foods Corporation hopes to find success mass-producing frozen sushi rice sheets that can easily be thawed while retaining a consistent and outstanding flavor and texture.
The company’s clients include the grocery chains Whole Foods and Lunds & Byerly’s, as well as a variety of colleges and universities, hotels and caterers.
Bumble Bee Seafoods recently invested in the company and the partnership with the industry leader in sustainable seafood products will support the operational expansion.
RiceWrap Foods will add a variety of job functions with this expansion, including production operators, logistics and sales personnel, and managers. Salaries for the new positions will average $40,005, which is higher than the current Granville County average wage of $38,857, according to the release.
New manufacturing jobs in the state
Two rural North Carolina counties will see a total of 85 new jobs, and $6.3 million in private investment, from economic development projects with manufacturing companies in Cherokee and Stanly counties, Cooper announced today.
“Manufacturers know North Carolina is the place to grow thanks to our strong workforce, favorable business climate, and exceptional worker training,” Cooper said. “These new manufacturing positions will bring valuable job opportunities to help these rural communities thrive.”
In Cherokee County, TEAM Industries Andrews, Inc., an engineering-driven design and manufacturing company, will add 20 jobs and invest $3 million at its facility in Andrews.
TEAM Industries will receive a $50,000 grant from the state to renovate the facility it has occupied for the past 13 years.
TEAM Industries specializes in machining technically-difficult precision gears and components for various automotive, recreational, aerospace and agricultural industries.
The renovation will include upgrades to facility air conditioning systems that are expected to allow TEAM Industries to better control critical processes and products.
In Stanly County, another state grant from the OneNC Fund is going to Quality Enclosures, Inc., a manufacturer of shower enclosures and tempered glass, worth $150,000 to be paired with a $3.3 million investment from the company to refit a vacant building in Albemarle that is expected to create 65 full-time jobs over four years.
The Albemarle building will be used to open a high-tech tempering operation, shower door distribution center and national training center.
The distribution center will service South Carolina, North Carolina, Virginia, Maryland and Delaware and the training center will host hands-on training for employees and customers from across the United States.
OneNC provides financial assistance to local governments to help attract economic investment and to create jobs.
Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment.
All OneNC grants require a matching grant from local government and is contingent upon that condition being met.