Catawba County, Claremont OK $50 million incentive agreement with Prysmian
Sep 3
1 min read
An international company’s plans to expand in Catawba County may deliver a large tax windfall for the county and city of Claremont.
Prysmian, an electrical wire and fiber optic cable manufacturer, plans to invest $1 billion and expand an existing facility by 900,000 square feet in Catawba County. As part of an economic development agreement between the company, Catawba County and the city of Claremont, Prysmian will add at least 385 jobs.
The jobs will pay at least $60,000 per year, according to the agreement.
In exchange for the new $1 billion investment and jobs, the company could receive a return of more than $50 million after paying property taxes to the county and city over 10 years.