Incentives approved for Japanese candy company coming to Mebane - WNCT

Incentives approved for Japanese candy company coming to Mebane

Posted: Updated:
MEBANE, N.C. -

The City of Mebane approved incentives Monday night for Morinaga, a leading Japanese candy company that will be opening a factory in town.

The company plans to create 90 jobs and invest up to $48 million over the next three years.

As part of the incentive package what was approved, the city plans to offer a cash incentive of 1.5 percent of the total investment. Morinaga is expected to make an initial investment between $34 million to $48 million. 

If the company makes an investment of $34 million, at 1.5 percent, Mebane would make an incentive payment of $102,000 in five annual payments for a total of $510,000.  

For a maximum potential investment of $48 million, the 1.5 percent incentive would equal a payment of $144,000 in five annual payments for a total of $720,000.

Construction is set to start in March 2014 and the 98,000 square-foot facility should begin operation in June or July of 2015. The factory will be located on Ben Wilson Road near I-40/I-85.

Morinaga products include milk caramel, chocolates, cookies, foodstuffs such as cocoa mix, and frozen desserts such as ice cream sandwiches and sundae cups. North Carolina activities will primarily consist of blending syrup, sugar, flavorings and other ingredients to produce soft candies such as Hi-Chew.

Salaries will vary by job function, but total payroll is estimated to be more than $3.4 million plus benefits. The average salary will be just under $38,000.

The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $264,000. The One N.C. Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state.

Mebane was one of more than 20 sites considered.
 
RELATED ARTICLES
 
  • Most Popular StoriesMost Popular StoriesMore>>

  • Owner of Raleigh 'Party Mansion' guilty of tax evasion

    Owner of Raleigh 'Party Mansion' guilty of tax evasion

    Monday, April 14 2014 4:07 PM EDT2014-04-14 20:07:04 GMT
    Claude Verbal II, who now lives in Miami, pleads guilty to a number of federal tax evasion charges.
    Claude Verbal II, who now lives in Miami, pleads guilty to a number of federal tax evasion charges.
  • Mom bites off dog's ear to save daughter during attack

    Mom bites off dog's ear to save daughter during attack

    Tuesday, April 22 2014 2:49 PM EDT2014-04-22 18:49:19 GMT
    Image from CNN/KHOU-TVImage from CNN/KHOU-TV
    In a backyard in Alvin, swings a very lucky girl. Her name is Mackenzi Plass, or Kenzi for short, and she survived a dog attack and has undergone several surgeries."She'll be two and a half in May," said her very proud mother Chelsi Camp. "She's doing great. You wouldn't know it if you couldn't see."Mackenzi has scars on her face after the ordeal just weeks ago that put her mother's animal instincts to the test."You do whatever you can," said Camp. "I don't have physical strength at my side."...
    In a backyard in Alvin, swings a very lucky girl. Her name is Mackenzi Plass, or Kenzi for short, and she survived a dog attack and has undergone several surgeries."She'll be two and a half in May," said her very proud mother Chelsi Camp. "She's doing great. You wouldn't know it if you couldn't see."Mackenzi has scars on her face after the ordeal just weeks ago that put her mother's animal instincts to the test."You do whatever you can," said Camp. "I don't have physical strength at my side."...
  • NC judge to rule against teacher tenure state law

    NC judge to rule against teacher tenure state law

    Wednesday, April 23 2014 7:18 PM EDT2014-04-23 23:18:26 GMT
    A Guilford County judge is backing two school districts fighting a North Carolina law that phases out job protections for public school teachers in favor of employment contracts.
    A Guilford County judge is backing two school districts fighting a North Carolina law that phases out job protections for public school teachers in favor of employment contracts.
Powered by WorldNow

3221 South Evans Street
Greenville N.C. 27834

Telephone: 252.355.8500
Fax: 252.355.8568
Email: newsdesk@wnct.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.