North Carolina Governor Roy Cooper announced today that RMC Advanced Technologies, Inc. (“RMC”), a manufacturer of molded plastic and composite parts, will develop a new manufacturing operation in Newton. The company will invest to expand a facility previously used for plastics manufacturing.
A performance-based grant of $150,000 from the One North Carolina Fund will help facilitate the project. The Catawba County Economic Development Corporation (EDC) says 49 new jobs will be created and at least $7 million will be invested in the project. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is also contingent upon that condition being met.
RMC, part of the Composites Division of Quebec-based NanoXplore Inc., is a solutions‐driven, customer‐focused manufacturer of molded plastic and composite parts and assemblies. RMC develops technologies, product designs and new manufacturing concepts that provide superior services and products to customers. The company’s technology specializes in processes that support high-volume, high-speed, and large surface-area molding.
In Newton, RMC will expand a facility that once housed Continental Structural Plastics Inc. The vision for the new operation includes adding a full paint line and other production capabilities, which will enable expanded production shifts, output, and future growth.
Through the project period of 4-5 years, the new jobs may create a payroll impact in the local community of more than $3.57 million per year, pending new business awards to the company.