NC: Sigma Plastics to Invest $5.5M to Expand in Transylvania County, Hire 80
14 Aug, 2014
Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced Sigma Plastics Group will restore the former Excelsior Rosman plant in Transylvania County and create 80 new jobs under the newly formed New Excelsior Incorporated. In addition to the new jobs, the company plans to expand manufacturing operations and invest $5.5 million over the next three years in Brevard.
“We applaud Sigma Plastics Group for revitalizing this facility in Brevard and recognizing the talented workforce in Transylvania County,” said Governor McCrory. “New Excelsior’s project marks a significant step forward in our manufacturing comeback, increasing a local company’s footprint to create even more permanent jobs for this region.”
New Excelsior is part of the larger Sigma Plastics Group which is a Certified Minority-Owned Business and the largest privately held manufacturer of extruded polyethylene films and bags in North America. Alfred Teo founded the company in 1977 in Lyndhurst, New Jersey. Today, the company employs 4,750 people in 43 locations across the United States and Canada. In 2013, annual sales reached over $2 billion.
“The New Excelsior project demonstrates how investments in critical infrastructure can spur job creation,” said Secretary Decker. “This will promote Transylvania County as well as Western North Carolina as a hub for manufacturing and attract more businesses from around the world.”
New Excelsior plans significant investments in new equipment. The company has purchased high-end printing tools including gravure and flexographic presses.
In addition to the 80 new jobs, New Excelsior has already hired approximately 50 former plant employees. Salaries will vary by job function, but the average annual payroll for the new jobs will be in excess of $2 million.
"We would like to thank the State of North Carolina and Transylvania County for entrusting Sigma Plastics Group with developing additional home grown jobs in the NC region. We look forward to a great relationship with the State and the community to continue to develop and maintain jobs in the United States," said Andrew Teo, CFO of Sigma.
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $80,000. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
“Thanks to New Excelsior for recognizing our existing workforce and adding new jobs for our community,” said Senator Tom Apodaca. “We look forward to a long and prosperous relationship with this new printing and packaging business.”
“It’s a great day for the Rosman area, Transylvania County and Western North Carolina as we welcome a new manufacturing partner and the addition of 80 jobs,” said Rep. Chris Whitmire. “The expansion of this plant gives Transylvania County one of its largest jobs announcements and economic boosts in the past decade.”
Partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Transylvania County Planning & Economic Development, Transylvania County.