MasterBrand Cabinets will expand its operations in Lenoir County, North Carolina to create more than 450 jobs over five years.
Article continues below
The company will invest more than $13.5 million to expand production capacity at its manufacturing center in Kinston.
MasterBrand Cabinets, a subsidiary of Fortune Brands Home & Security, Inc., manufactures and distributes a wide spectrum of cabinetry products designed to satisfy every budget and lifestyle.
The company serves market segments that include stock cabinets, semi custom and custom cabinetry, as well as vanities for the kitchen, bath, and other areas of the home.
The company’s project in Lenoir County will expand its existing facility in Kinston to meet growing demand for its products. The company plans to significantly increase the site’s production capacity, with cabinets for kitchens making up the primary output for the expanded facility.
While salaries will vary based on position, the average wage for all the new jobs will exceed the Lenoir County average of $39,839. The total payroll impact for the region is expected to reach more than $18.5 million.
MasterBrand Cabinets’ project in North Carolina will be facilitated by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12 year term of this grant, the State estimates the project will grow its economy by $657.8 million.
Using a formula that takes into account the new tax revenues generated by the 464 new jobs tied to this grant, the JDIG agreement authorizes the potential reimbursement to the company of up to $3,878,000, spread over 12 years.
State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company. ■