LINWOOD, N.C. — Japanese company Dai Nippon Printing will create more than 350 new jobs at a manufacturing plant. It's just the latest green energy job to establish roots in our area.
Dai Nippon is set to invest $233 million in the City of Linwood, which is in Davidson County. This money will help build the company's first U.S. manufacturing facility.
The people filling those jobs will be making more than the county's average salary, Davidson County's Assistant County Manager, Jason Martin said the move will bring higher-paying jobs to people with a variety of skill sets.
"The opportunity is there for people that are coming out, particularly coming out of high school and going into community college, that are able to get into a good paying job. It's just a good thing for the county," Martin said.
Dai Nippon will make lithium-ion battery pouches, often found in smartphones, laptops, and electric vehicles. These types of batteries require advanced manufacturing.
"Advanced manufacturing is not just dependent on your individual hands and skill but also some advanced machinery that does part of it and you're making more complicated things, you have to be in a clean room to make it. Typically, those jobs require more skill sets, which requires more training, and therefore you get paid more," President & CEO of Piedmont Triad Partnership, Michael Fox said.
Outside of the potential workforce, county leaders say the company chose our state because of taxes.
"The tax rate here is very low, you know, compared to property taxes in other places, it's very low. I think that speaks well of North Carolina too, I mean, it has a very business-friendly climate. It's one of the fastest-growing states in the country for sure," Martin said.
Dai Nippon's Linwood location would be a part of the eye-85 corporate center... Making it the second manufacturing facility there alongside Eggar Wood Products. It's not clear when the facility will be built or go into operation.
The office of Governor Cooper sent out more information about this move in a press release:
DNP, founded in 1876, is one of the world's leading printing companies. Utilizing print-based core technologies, it operates in various business fields. Particularly in the field of battery pouches for lithium-ion batteries, it has achieved the world's top market share.
DNP manufactures lithium-ion battery pouches for electric vehicles. The durable yet soft, flexible plastic packaging material will encase and protect EV battery cells. DNP has developed and produced packaging for smartphones, tablets, and laptops for more than three decades, providing lighter and lower profile pouches that resist heat and vibrations, protect from water, extend battery life, and increase fuel efficiency.
“From the east to the west, North Carolina’s electric vehicle industry is growing exponentially,” said N.C. Commerce Secretary Machelle Baker Sanders. “Our natural resources and our reputation for highly skilled talent and strong transportation infrastructure, continue to attract global leaders, like DNP, that share our commitment to sustainability.”
Although salaries for the new positions will vary, the average annual salary for the new positions is $50,281, which exceeds the Davidson County average wage of $49,956. The project could create a potential annual payroll impact of more than $17.6 million per year for the region.
DNP’s project will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $691 million. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $2,741,400 spread over 12 years. State payments only occur following performance verification by the Departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
Because DNP chose a site in Davidson County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $304,600 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business.