A Rocky Mount company that makes equipment for the food-packaging industry threatened to leave North Carolina, but reconsidered after receiving the promise of state and local incentives worth up to $400,000.
Ossid officials had considered moving the company to South Carolina, but decided to stay put after North Carolina promised a One NC grant worth as much as $200,000, Gov. Bev Perdue's office announced today.
The grant, which must be matched by local incentives, depends on Ossid retaining the existing 79 jobs at its Edgecombe County operations, creating six new jobs and investing $850,000 over the next three years.
The six new jobs will pay average annual salaries of $38,000, more than the Edgecombe average of $33,176, Perdue's office said. The company's facilities are located about 60 miles northeast of Raleigh.
Ossid, a division of Ohio-based Pro Mach, makes equipment that allows food companies to seal, package and weigh various products.
“The One NC grant is, in our view, an innovative approach by North Carolina for investing in local job creation and business growth now and well into the future,” said Bud Lane, president of Pro Mach's Primary Packaging Business Unit. “The grant enables Ossid to continue being a member of the local Edgecombe County community, a community where we have deep roots.”
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or
Comments
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Welfare
Tue, 04/05/2011 - 01:53 — InspectorPittYep, this is corporate welfare.
The states that stoop to the level of groveling companies ask for what they get: few jobs and no guarantee those jobs will last.
I believe in the free market, and as long as states give incentives, that market is not very free. Those companies coming with their hands stuck out should be ashamed, and so should a Governor (of any state) that provides the welfare assistance.
Losers
Mon, 04/04/2011 - 23:27 — OlBlueThe Taxpayers of North Carolina lose again! All this to create six new jobs? Bet you that three years from now, the State will have to pony up. again, or this company will threaten to leave once more.