Eco King Solutions will invest $80.5 million in Robbinsville for first North American factory
Governor Josh Stein announced today that Eco King Solutions, LLC, a new subsidiary of a major manufacturer, plans to create 515 jobs in Graham County. The company will invest $80.5 million in Robbinsville to establish its first North American production facility to produce disposable, biodegradable paper tableware.
“North Carolina offers global companies a perfect location for expansion into North America,” said Governor Josh Stein. “We welcome Eco King to western North Carolina, where it will find a welcoming business climate, education and workforce programs tailored to its needs, and the full range of competitive advantages that make North Carolina the top state to do business in the country.”
Eco King Solutions is the wholly owned U.S. subsidiary of Chinese manufacturer Zhejiang Kingsun Eco-pack Co., Ltd, which was founded in 2008 and operates three high-capacity factories in China employing approximately 1,200 people. The company specializes in the production of disposable dishware such as bowls, plates, clamshell containers, and trays used in supermarkets and a wide variety of other food service industries. The company serves a growing customer base in North America, and the project represents a strategic expansion to better serve this market. Establishing the facility in Robbinsville will allow the company to localize production, improve supply chain efficiency, and reduce international shipping costs and production lead times.
“We have been impressed by how welcoming Robbinsville, Graham County and North Carolina have been to our company and this important project,” said Ping Zhang, Chairman of Eco King Solutions. “We worked very hard to find the right location for our business to thrive. We know we found it right here due to the excellent workforce, quality of life and friendly business climate. We are excited to be a part of the community, and we are excited for our company to prosper here.”
“This investment is a success story for manufacturing in western North Carolina, where folks work hard to make great products,” said Commerce Secretary Lee Lilley. “Whether it’s CNBC naming us the top state for business or investments from CEOs around the world, North Carolina continues to be a global destination for great job creation.”
Although wages will vary depending on the position, the average salary for the new jobs will be $46,707, in line with the average wage in Graham County of $46,628. The new jobs will generate an annual payroll impact in the community of more than $14 million.
The company’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by more than $743.4 million. Using a formula that takes into account the new tax revenues generated by 300 of the new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $2,894,000, spread over 12 years. State payments occur only following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
The project’s projected return on investment of public dollars is 106 percent, meaning for every dollar of potential cost, the state receives $2.06 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
“A major economic development win like today’s announcement provides proof that Robbinsville and Graham County are great places to do business,” said Senator Kevin Corbin. “We’re proud that Eco King chose us for their first North American factory, and we will do everything we can to help them be successful in western North Carolina.”
“I am very excited for Robbinsville,” said Representative Karl E. Gillespie. “The company will be establishing its first manufacturing facility in North America in Graham County. It’s another strong example of why North Carolina was recently named the #1 State in the nation to do business. This project is expected to bring new jobs, boost our local economy, and improve the quality of life in our community. Thank you to our local, regional, and state economic development leaders for helping make this project a reality.”
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the Commerce Department’s Divisions of Workforce Solutions and Rural Economic Development, Duke Energy, the Town of Robbinsville, Graham County, the Southwestern Commission, and the Mountain West Partnership.
