CATAWBA COUNTY, N.C. — Catawba County commissioners and Claremont City Council members will hold a joint public hearing Tuesday to discuss incentives for Prysmian’s planned $1 billion expansion.
The hearing is scheduled for 6:30 p.m. Sept. 1 at the Hickory Metro Convention Center.
Prysmian announced plans earlier this month to invest more than $1 billion in Catawba County and create more than 385 jobs.
The project is expected to be the largest manufacturing investment in county history, according to the Hickory Record.
Plans call for a 975,000-square-foot expansion of the company’s existing Claremont facility, doubling its fiber-optic manufacturing capacity. A new glass production facility is also planned.
The new jobs are expected to have an average annual salary of about $60,870, according to Gov. Josh Stein’s office.
If Prysmian meets the terms of the proposed economic development agreement, the company could receive up to $28.6 million from Claremont and $27.3 million from Catawba County. The incentives would come through a portion of property taxes paid on the new buildings and equipment.
The payments could continue for up to 10 years, with the first payment likely coming in 2028.
The state has also approved a $1 million performance-based grant through the One North Carolina Fund.
Prysmian currently employs about 680 people at its Claremont facility and has operated in Catawba County since the 1990s. The expansion is expected to be completed by the end of 2031.