Pactiv LLC, the food packaging company with six plant locations in North Carolina, has reached a deal with the state to expand its operations in Kinston creating 59 new jobs in Lenoir County.
In return, the state has offered the Illinois-based company a One NC Fund grant – its second economic development grant from North Carolina in two years – that's valued at $150,000 if it reaches its employment goals. The state's economic incentive grant must also be matched by a local government grant in order to qualify.
Pactiv is expected to invest more than $24 million in the expansion of the Kinston plant over the next three years, according to a news release from Gov. Pat McCrory's office.
Salaries for the new jobs in Kinston, which will include operators, technicians and mechanics, will average around $30,500 annually, boosting the company payroll in Kinston by $1.8 million. The median household income for Lenoir County is $35,770.
Pactiv supplies major foodservice retailers and distributors in North America and globally with custom and stock foam, plastic, aluminum, pressed-paperboard, PE coated board and molded-fiber packaging.
Pactiv in July 2013 was also approved for a One NC Fund grant valued at $103,000 to add 51 new jobs at its plant in Mooresville and and another 26 jobs in Kinston.
The company employs more than 900 people in North Carolina. Its other four North Carolina plants are in Aberdeen, Greensboro and Huntersville.
Source : http://www.bizjournals.com/