An Israeli company that makes advanced polymers and compounds used by plastic molders and processors has picked Gaston County for its first U.S. facility, creating 75 jobs in five years.
Gov. Pat McCrory, N.C. Commerce Secretary Sharon Decker and the Economic Development Partnership of North Carolina announced on Friday that Tosaf USA would invest $13.1 million over the next three years in Bessemer City.
“That Tosaf USA would choose North Carolina for its first U.S. manufacturing plant speaks volumes about what we have to offer,” McCrory said in a release. “Tosaf USA found hardworking employees, a great quality of life and the infrastructure needed to be successful.”
The parent company of Tosaf USA is Tosaf Compounds Ltd.
The average annual wage for the new jobs will be $38,895. The Gaston County average annual wage is $35,868.
Gaston County Commissioner Jason Williams said on Saturday, “It’s always exciting to have another international company.
“There were a lot of partnerships in this project,” he said. “It’s an illustration of what can happen when the private sector and the public sector work together to move Gaston County forward.”
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $225,000. The fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs.
Companies receive no money up front and must meet job creation and investment performance standards to quality for grant money.The grants are contingent upon local matches. Gaston County contributed $300,000 and Bessemer City $100,000, according to Bessemer City Mayor Becky Smith.