Corning Inc. has signed up to be the first tenant in a new business park being built in Hickory, North Carolina, a $60 million investment in its Optical Communications division.
A story by David Boraks, WFAE, said that city and Catawba County officials report that the plant will be built on 27 acres at the Trivium Corporate Center, between Robinwood and Startown roads. Local officials had been referring to the plan as "Project Wave" during negotiations with Corning.
The announcement came after the Hickory City Council and Catawba County Commission approved a series of incentives that provide Corning the land, valued at \(605,000, and granting up to \)1.7 million in tax rebates over five years. Corning also was given an option to acquire another 4.4 acres.
The project was expected to create 110 new jobs, the report said. Corning has committed to creating 75 new jobs by Dec. 31, 2020, and the remainder by Dec. 31, 2023. The manufacturing capacity will be used to produce a range of optical fiber and cable.
"Corning is investing in tomorrow’s growth today, as the growing number of connected devices fuels demand for our optical fiber and cable innovations," Dr. Bernhard Deutsch, vice president and general manager of Corning Optical Fiber and Cable, said in a statement.
Corning has more than 4,000 employees in North Carolina, in both cable manufacturing and life sciences. It is also building a new headquarters for the cable business, off I-485 in northwest Charlotte. That operation is expected to relocate to Charlotte from Hickory next year and could eventually employ up to 650 people.