Print
More News

Pacon, Navassa: A Successful Match

By Jenny Callison, posted May 3, 2019
Pacon chairman Mike Shannon (third from right) gestures enthusiastically as Gov. Roy Cooper announces the manufacturer's decision to relocate to Navassa. Photo courtesy of Brunswick BID
The fact that Southeastern North Carolina has a variety of recreational offerings could have helped clinch the deal for Pacon Manufacturing in its decision to locate in Navassa.
 
That’s according to Bill Early, director of Brunswick Business & Industry Development (BID), who led the recruiting effort that is bringing Pacon to Brunswick County. Early said Mike Shannon, Pacon’s chairman of the board, enjoys boating, fishing and golf.
 
“When he relocates to the area, he will be bringing his boat,” Early said.
 
The wooing of Pacon, which develops and manufactures wipes, pads, towels and liquids for the consumer, industrial and medical industries, took more than a year and benefited from both patience and good timing.
 
North Carolina’s Southeast, the public-private partnership that promotes economic development in the region, had identified New Jersey-based Pacon as a company potentially interested in relocating. A visit to the company’s headquarters as part of an NCSE recruiting trip in the Northeast sparked some interest and spurred a visit from Pacon officials to this area.
 
“They really liked the greater Wilmington area,” Early said. “The key was finding a building suitable for their needs. This is a prime example of the value of having buildings available [for companies wishing to relocate or expand].”
 
As Pacon shopped for a location, local officials showed them sites that could be developed for the manufacturing company. All would have required construction of buildings, according to Early.
 
Then, in July 2018, the U.S. Marine site was suddenly for sale.
 
“The [property] had been off the market by the owner for some time, and they decided to put it back on the market last July,” Early said. “Pacon was looking at the building by August.”
 
After Pacon agreed that the U.S. Marine site could fit its needs, negotiations on what was then code named “Project Pavement” moved forward. Economic development officials initially expected a public announcement in February, but the company felt it needed more time to do a thorough assessment of the costs and benefits of relocating to Navassa.
 
“Pacon needed to be comfortable with the cost of doing business here, in terms of taxes and fees that could be assessed, and the labor supply,” Early said. “They had to make sure it could be profitable.”
 
Eventually, Pacon’s leadership decided that moving to Brunswick County, which has the 11th-lowest property taxes of all North Carolina counties, was an attractive option.
 
On April 5, Gov. Roy Cooper announced Pacon’s plans to relocate to Navassa, make a $37.6 million investment and ultimately create 299 jobs. The project received a $300,000 One North Carolina Grant, which is performance-based, to support its investment in the region.
 
“When Pacon has filled 25% of their job creation commitment, they will get 25% of the money, and so forth in increments,” Early said.
 
On April 19, the state’s Rural Infrastructure Authority announced its approval of a $700,000 Building Reuse Grant to help with the cost of renovation of the former U.S. Marine Building facility.
 
The grant requires a 5% local match from the county, totaling $35,000.
 
Renovation expenses are estimated at about $2 million, according to Early.
 
Pacon and Brunswick officials anticipate that the New Jersey company could close on the site sometime in May, Early said.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Yasminheadshotwithlogo

Evolving Education

Yasmin Tomkinson - Cape Fear Literacy Council
Frankjolly liveoakprivatewealth

Roaring Market, Rocky Economy

Frank Jolley - Live Oak Private Wealth
Aaeaaqaaaaaaaaidaaaajdhiztrkodm0lte2yjetngrkmy1hotrmltawmdvlmwqyztmymw

Something In The Way You Walk

Diane Durance - UNCW Center for Innovation and Entrepreneurship

Trending News

Trask Land Plans Two Communities On More Than 500 Acres

Cece Nunn - Sep 17, 2020

Builder Buys Pender County Property For Single-family, Townhouse Neighborhood

Cece Nunn - Sep 18, 2020

PPD Prices Secondary Stock Offering

Christina Haley O'Neal - Sep 17, 2020

After City's Stay Motion Granted, Short-term Rental Owners Await Next Move

Cece Nunn - Sep 18, 2020

Survey Launches To Assess COVID-19 Impacts On Minority Businesses

Christina Haley O'Neal - Sep 17, 2020

In The Current Issue

More Using RV's For Safe Travels

Limitations resulting from the novel coronavirus have “opened the eyes of people who never thought about [traveling by RV] before,” said Tra...


Practice Launches In-office Cataract Surgery

Surgical Eye Care recently expanded its services to offer of­fice-based cataract surgery....


Service Offers Medical Care Flexibility

Wilmington Health is taking a step outside of the traditional provider role of treating patients and being reimbursed by insurance companies...

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`