Corning Incorporated will invest $585 million and add 414 jobs to its Wilmington campus, the company announced Oct. 21.
With the expansion, Corning will have a local workforce of about 1,000, the company said.
Corning said its Wilmington site is one of the world’s largest optical fiber manufacturing plants, providing infrastructure for the digital economy.
The announcement came after both the New Hanover County Board of Commissioners and the Wilmington City Council unanimously agreed to an economic development incentive agreement for Corning’s Project Pearl II, which manufactures fiberoptic cables.
Read More: At Greenville rally, Trump threatens to withhold money for veterans exposed to toxic water if Republicans lose
New Hanover approved a $3 million grant Oct. 19, and Wilmington signed on for $2 million Oct. 20 to help fund the expansion of a manufacturing facility. The actions were proposed by Wilmington Business Development.
The economic impact
The 414 new jobs to be added over five years would bring an average annual salary in excess of $85,000, according to Corning. Once the hiring is complete, Corning’s expansion will produce a payroll impact of more than $35 million per year for the greater Wilmington region, the company said.
The New York-based company, founded in 1851, first established a presence in Wilmington 60 years ago.
“We’re proud to expand our presence in Wilmington, where Corning made history with the world’s first optical fiber manufacturing plant and where our people continue to make the fiber that is critical to next-generation networks,” John McGirr, the Corning optical fiber and cable senior vice president and general manager, said in a news release announcing the expansion.
What local leaders say
Corning said the region competed for the project with numerous other locations.
“Corning has been part of New Hanover County for decades, and when a company with that track record is ready to grow, this Board wants that growth to happen here,” LeAnn Pierce, the New Hanover County Board of Commissioners chair, said in the news release.
Wilmington Mayor Bill Saffo said in the news release: “When a business that’s already part of our community chooses to grow here, that’s a strong vote of confidence in Wilmington and our future. This project represents hundreds of new, good-paying jobs, a significant investment in our local economy and opportunities for families across our region.”
Reporting by Bob Liepa, Wilmington StarNews / Wilmington StarNews
USA TODAY Network via Reuters Connect
