The City of Monroe has recently recognized the contributions of Greiner Bio-One North America Inc. by presenting a $58,650 economic development incentive check. This gesture represents the fourth installment of a five-part series of payments structured under an agreement to encourage the company's growth and investment in the area. Greiner Bio-One, a subsidiary of the Austria-based parent company, is a key player in the local economy, manufacturing products vital to medical technology and laboratory applications.
Highlighted during the check presentation were Monroe's Mayor Robert Burns, City Manager Mark Watson, Assistant City Manager Lisa Staw Hollowell, and Strategic Projects Manager Teresa Campo, who joined Greiner Bio-One's Senior Manager of Engineering and Project Management Eric Paszkowski and Head of Controlling and Financial Accounting Desdemona Thompson Sesay. "Greiner Bio-One is one of Monroe's economic anchors, and a global leader," City Manager Watson told Monroe's official website, emphasizing the company's significant impact through high-tech job creation.
As per the economic development agreement, which took effect in April 2019, Greiner pledged to make an investment in the realm of $12.75 million over five years into the Monroe facility, ensuring a minimum of $2 million in new taxable improvements, machinery, and equipment. The total potential incentive from the City is capped at $293,250, scheduled over a span of five fiscal years starting in 2022. Each annual payment depends on the company's demonstrated investments in the year prior.
In the meeting with city officials, the certified investment figures for 2024 stood north of $10 million, leading to the recently issued incentive check. Since the onset of the agreement, Greiner has continuously surpassed their investment commitments, declaring investments close to $40 million in the fiscal year of 2025. "Their investment bolsters our local economy, generates employment opportunities for our residents, and embodies genuine partnership," said Mayor Burns as reported by Monroe's official website. Greiner's growing footprint in Monroe paves the way for extended collaboration and future growth, as echoed by city officials during the incentive presentation.
With the final payment due under the current agreement, the City of Monroe and Greiner Bio-One North America Inc. have completed the scheduled economic development incentive. The partnership between the city and the company reflects ongoing investment and collaboration in Monroe's local economy.
