New Hanover County Approves $3M Incentive to Land Corning's $585M Expansion and 414 Jobs
The New Hanover County Board of Commissioners in North Carolina voted unanimously on October 19 to approve a $3 million economic development grant aimed at persuading Corning Inc. to expand in Wilmington. The grant would be paid over five years at $600,000 annually and is tied to job and investment targets, with payments prorated if goals are missed. County Chief Financial Officer Eric Credle identified the company as Corning, the county's 12th-largest employer. If Corning chooses Wilmington, the project, code-named Project Pearl 2 and led by its optical communications business, would invest $585 million over five years and create 414 full-time jobs with an average salary of $85,080, 21% above the county average, with construction completed by the end of 2028. Credle said the county would recoup its full investment through new tax collections within four years. The City of Wilmington is separately considering a $2 million incentive, with the City Council set to discuss it on October 20. Wilmington Business Development CEO Scott Satterfield noted Corning could choose among several sites nationwide. "We want those 414 jobs here," Vice Chair Dane Scalise said. (GSM, based on Wilmington StarNews reporting)
Published by GSM · USA (original Chinese edition)
Photo: Wilmington 的 Cape Fear 河滨；Wikimedia Commons，CC BY-SA 2.0，作者 James Willamor
