Corning Optical Communications LLC, a subsidiary under the broad Corning Incorporated umbrella, is gearing up to broaden its manufacturing footprint in the cityscape of Hickory. A hefty investment swing, ballparks in the range of $170 million to $267.9 million, is on the making plans to shake hands with the future, as reported by the City of Hickory's official release.
An economic development agreement has outlined the contours of this financial movement, where Corning will be acquiring Lot 11 within Trivium Corporate Center spread across about 33 acres, without any cost to the corporation. The monetary muscle flexing doesn't stop there; the company is set to receive tax grant incentives from both Catawba County and the City of Hickory, pooling up to an additional $2.6 million and $3.1 million respectively, over a five-year timeline. In the mix, are 132 jobs that are expected to materialize, shouldering an average salary nodding north of $65,000, the city's announcement divulges.
In heed to this development, Lindsey Theis, Director of Strategic Planning & Analysis at Corning Optical Communications, conveyed, according to the City of Hickory, "We're grateful for the support of Catawba County and the City of Hickory as we bring new opportunities to the business park and the greater Hickory community." This move is pinned to fortify Corning's presence in the region, riding on the back of a "highly skilled workforce in Catawba County" crucial to Corning's triumph in spinning out innovative optical cable solutions for their clientele.
Hickory Mayor Hank Guess wasn't behind in the lineup of endorsements, noting, "Corning’s ongoing commitment not only strengthens our local economy but also reinforces Hickory’s position as a hub for advanced manufacturing and innovation," as per the City of Hickory announcement. Randy Isenhower, Chair of the Catawba County Board of Commissioners, echoed this sentiment, touting Corning's "continued success" as a testimony to the impactful and collaborative economic strategies executed within the county.
The economic development agreement comes with strings attached, putting Corning into a contractual grid enforcing minimum job creation and investment criteria, with stiff penalties awaiting any side-step from compliance under NC General Statutes. This deal ropes in multiple contributors, including Trivium Corporate Center Inc., the Catawba County Economic Development Corporation, the NC Department of Commerce, and the Economic Development Partnership of North Carolina.
