Print
More News

Pacon Manufacturing Receives $700K Grant To Renovate Brunswick Site

By Jenny Callison, posted Apr 19, 2019
A Building Reuse Grant will help support the renovation of the former U.S. Marine Building site for Pacon Manufacturing. (File photo)
Pacon Manufacturing’s plans to open a facility in Brunswick County received a major boost this week when the state's Rural Infrastructure Authority approved a $700,000 grant to support renovation of the former U.S. Marine facility in Navassa, where Pacon will locate.

The grant requires a 5% local match from the county, totaling $35,000.

Renovation expenses are estimated at about $2 million, according to Bill Early, director of Brunswick Business and Industry Development (BID). The Rural Infrastructure Authority’s Building Reuse Grant will help offset that expense, but Pacon must do the work and pay for it first, Early explained in a conversation earlier this month about how the grant would work if it were approved.

“The company would have the renovation done and submit the invoices and proof of payment,” Early said. “The [grant] money would come to the county, and the county then would forward it to Pacon.”

Only "approved and eligible" upfit expenses would be reimbursed from grant funds, Early explained.

Founded in 1949, Pacon Manufacturing develops and manufactures wipes, pads, towels and liquids for the consumer, industrial and medical industries. Its products range from disinfecting wipes to makeup remover pads to personal care wipes.

In his announcement of Pacon’s decision to open a manufacturing facility on the U.S. Marine site, Gov. Roy Cooper said the New Jersey-based company would create 299 new jobs and make an investment of $37.6 million in the project.

The grant, however, was based on different numbers, Early explained. The Building Reuse Grant application cited 238 jobs, the number Pacon expects to create in its first two years (the 299 is the total projection after five years), and a company investment of just under $12.5 million, the cost of only the building upfit and machinery purchase and not other related expenses.

This is the second grant from the state supporting the manufacturing project. Earlier this month, officials announced a $300,000 grant from the One North Carolina Fund. This performance-based fund will release the money in increments as Pacon hits specified hiring and capital investment targets, Early said.

The Building Reuse Program provides grants to local governments to renovate vacant buildings, renovate and/or expand buildings occupied by existing North Carolina companies, and renovate, expand or construct health care facilities that will lead to the creation of new jobs in Tier 1 and Tier 2 counties – counties with fewer employment opportunities – and in rural census tracts of Tier 3 counties.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Img 0801

The 3 Most Important Questions Before You Retire

Brett Tushingham - Tushingham Wealth Strategies
Deedee gasch

Ten Questions with Laurie King, Vice President, Director of Corporate Relations at MCO Transport, Inc.

Deedee Gasch - Cranfill Sumner & Hartzog LLP
Hardyheadshot

Start Your Doctor of Nursing Practice Degree to Get Ahead of the Curve

Charles Hardy - UNCW College of Health and Human Services

Trending News

Hello Again, Henrietta: New Dinner Cruise Boat Floats Into Downtown Wilmington

Cece Nunn - May 21, 2019

Wheelz Pizza Aims To Revolutionize Pizza Delivery

Jessica Maurer - May 22, 2019

On Park Avenue In Wilmington, Developers Plan One-bedroom Apartments

Cece Nunn - May 21, 2019

Brother And Sister Team Up To Serve Family Soul Food Recipes

Jessica Maurer - May 22, 2019

Online Platform For Real Estate Investors Takes The Surfboard At CEA Awards Event

Jenny Callison - May 22, 2019

In The Current Issue

Officials Forecast Hot Summer Travel Season

Marketing efforts by the Wilmington and Beaches Convention & Visitors Bureau (CVB), coupled with mended tourist attractions, are behind the...


Trattoria On Market St. Savors Popularity

The eggplant Parmesan is so popular at Rosalie’s Trattoria, the restaurant can’t keep the vegetable in stock, said owner Al Cervini....


The Economy Of Outdoor Offerings

Outdoor venues provide spaces to let the good times roll, but is the money rolling in too? It seems to be. Despite last year’s hurricane, ti...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`
Transporting the Future - Power Breakfast 3.12.2019
Health Care Heroes 2018