Wilmington NC Real Estate News
Former Brunswick Corporation Yacht Facility Sold!July 9, 2019
Pacon Manufacturing will be relocating from Somerset, NJ.
Plans 299 jobs and $37.6M investment.
Leland, N.C. – Pacon Manufacturing Corporation, a contract manufacturer, has selected Brunswick County for its new plant, creating 299 new jobs and investing $37.6 million. The property was purchased by an investment group, Quality Drive Partners Holdings, LLC, with whom Pacon executed a long-term lease.
Over the next 12-18 months, Pacon will make improvements to help facilitate their manufacturing and distribution needs while relocating their manufacturing equipment and operations in phases.
Pacon Manufacturing develops and manufactures wipes, pads, towels and liquids for the consumer, industrial and medical industries. Pacon’s products range from disinfecting wipes to makeup remover pads to personal care wipes, and the company manufactures for the leaders in consumer-packaged goods. Pacon Manufacturing was founded in 1949.
At the facility on April 5, 2019, Governor Cooper introduced “Project Pavement” announcing Pacon’s relocation and receipt of a performance-based grant from the One North Carolina Fund. The One N.C. 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 contingent upon that condition being met.
North Carolina’s Southeast Partnership (NCSE), North Carolina Department of Commerce, Economic Development Partnership of N.C. (EDPNC) and Brunswick County Business and Industry Development were instrumental in supporting the company’s expansion decision.
“Pacon Manufacturing looks forward to this opportunity to partner with the people and resources of Brunswick County and the great state of North Carolina,” said Mike Shannon, Pacon’s Chairman of the Board. “We would like to thank the teams at NCSE, NC Commerce and Brunswick County, among others, who have been instrumental in making this possible. This facility in Navassa is a key component to our growth in the upcoming years.”
Pacon Manufacturing was represented by Cody Cress and Tyler Pegg with The Cress Group of Coldwell Banker Commercial Sun Coast Partners.