Owens Corning to create 110 jobs in Gaston

“Advanced manufacturing companies like Owens Corning know that North Carolina is just the place for their business to grow and flourish,” said Senator Kathy Harrington. “The jobs that they’ll create will strengthen Gaston County and be an example to others of the strong talent pool and attractive quality of life that characterizes this region of the state.”

“I am extremely pleased that Owens Corning has made Gaston County their choice to open an advanced manufacturing facility,” said Rep. John Torbett.  “My office will continue to recruit and support the growth of manufacturing in our region, and I look forward to working closely with Governor McCrory and Secretary Decker on future projects.”

The project was made possible in part by an award to Owens Corning from the state Job Development Investment Grant (JDIG) program, as voted by the state Economic Investment Committee.  Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant.

Under the terms of the company’s JDIG award, Owens Corning is eligible to receive up to 10 annual grants equal to 75 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award.  Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over 10 years, the JDIG award could yield aggregate benefits to Owens Corning of up to $1.69 million upon creation of 110 new jobs.

In addition, up to $298,000 in additional funds from the company’s JDIG award could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded to a company whose site is located in the state’s more economically prosperous counties such as Gaston, 15 percent of the company’s grant is allocated to the Utility Fund to encourage economic development in less prosperous counties.

State of North Carolina