Mafic USA Plans Shelby, North Carolina Manufacturing Plant

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In Economic Development
Nov 1st, 2016
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Mafic USA, the advanced materials company, plans to invest more than $15 million in a production facility in Shelby, North Carolina, with plans to hire 113 associates at its manufacturing operation in Cleveland County.

A U.S. unit of privately-held Mafic Inc., based in Ontario, Canada, the company is a global producer of continuous and chopped basalt fiber as well as long fiber thermoplastic resins. Mafic products are shipped to buyers in the automotive, aerospace, alternative energy and numerous other industries. The company’s new operations in Shelby will employ skilled operators, engineers, sales staff and other personnel.

“We considered a number of locations across the U.S. for our first American manufacturing facility, said Mafic CEO Mike Levine. “North Carolina and Cleveland County had been under consideration from the start, due to its network of specialized suppliers and wide-range of potential B2B customers and strategic partners. What sealed the deal for us was the multifaceted support from all levels of government; the state, county and city. In particular, the Cleveland County Economic Development Partnership went way beyond what was expected.” Mafic USA’s arrival in North Carolina was made possible in part by a performance-based grant of up to $225,000 from the One North Carolina Fund. The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for grant funds. All One NC grants require a local government match.

In addition, a $500,000 grant from the state’s Building Reuse Program, which provides grants to local governments for building renovations that lead to job growth, will also assist the company. An outdated and abandoned building will now be converted into a modern state-of-the-art facility suited to Mafic’s very specific requirements.

“Mafic USA brings an impressive track record of innovation and industry leadership to Cleveland County,” said Governor Pat McCrory. “Nothing speaks more powerfully to the quality of our workforce, market access and business climate than when a global company like Mafic chooses to invest and hire in North Carolina.”

In addition to North Carolina Commerce and EDPNC, other key partners in the project include the North Carolina General Assembly, North Carolina Community College System, N.C. Rural Infrastructure Authority, Cleveland County, the City of Shelby, Duke Energy and the Cleveland County Economic Development Partnership.

Read full article on areadevelopment.com