Maxis Client Announces $90 Million Investment for Plymouth, North Carolina
Maxis Advisors is pleased to share Domtar Plymouth Paper Mill’s recent announcement that it will make a significant $90 million investment to grow and modernize its paper production facility, adding 30 full-time employees by 2023 in Martin County, North Carolina.
Martin County Commissioners approved a multi-year incentive package August 14th, facilitated by Maxis Advisors, which proved to be a key to the company’s commitment to move forward with this marquis economic development victory for eastern North Carolina.
“Folks that work at that facility come from Martin County; they come from Washington County; they come from Chowan County; they come from Pitt County,” explains County Manager David Bone. “So, it really benefits our entire region when we have an industry making this sizable investment in our community.”
The county agreed to an incentive package that offers up to a 70 percent tax reimbursement if the company meets certain investment, job and wage goals over the next five years. Additionally, the company pledged continued operations for at least the next eight years. Maxis Advisor’s Project Manager Andrea Brownell worked with state and local economic development officials to help craft an agreement that assists Domtar in investing confidently for the future, while securing hundreds of jobs and benefitting vendors, utilities and the regional economy for years to come.
“Through this agreement with Martin County, we will be able to further improve the efficiencies of the mill’s assets and reduce costs,” according to a company statement. “These investments are part of a broader strategy across our pulp network to optimize our pulp operations to remain competitive in a global market.”
“Maxis Advisors is delighted to have represented Domtar Plymouth Paper Mill during these productive negotiations that resulted in a long-term win for Plymouth, Martin County, our client and the entire Eastern North Carolina region,” added Patric Zimmer, Maxis President. “We look forward to seeing the improvements at the plant, the new employees and a thriving paper mill here in Plymouth for years to come.”
Based in Charlotte, N.C., Maxis Advisors is a highly-skilled site selection and negotiated incentives company that helps clients in various industries including manufacturing, logistics, technology, financial, and real estate development to maximize opportunities. For more than 20 years, Maxis Advisors has built a strong reputation serving clients, working in over 40 states, and helping companies grow through projects resulting in more than $10 billion in capital investment and 9,500 jobs.
Additional Information may be found:
https://www.nipimpressions.com/-domtar-plymouth-paper-mill-to-stay-in-martin-county-n-c–cms-9220