Packaging Manufacturer to Invest $8 Million in Greensboro Expansion

Statement

Pactiv Corporation, a food packaging manufacturer and distributor, will create 25 new jobs in Guilford County, Governor Roy Cooper announced today. The company will invest a minimum of $8 million to expand their current facility in Greensboro.

"Companies like Pactiv choose to expand in North Carolina because our state has the right ingredients for success: the infrastructure and workforce to help grow their business," said Governor Cooper.

Pactiv is a global leader in the food packaging industry. Founded in 1965, Pactiv strives to innovate and focuses on producing and distributing the highest quality foodservice packaging products. The company supplies every major foodservice retailer and distributor in North America and continues to be an industry leader in technology and innovative new product development.

"It is important for us to grow in areas where there is both a good business climate and an available and skilled and workforce", said Fred Mooney, Pactiv's Vice President of Operations. "We have found Greensboro, North Carolina to be such a place. Thank you to the City of Greensboro and the State of North Carolina for their continued support of our growth."

"North Carolina is the second largest state for food and beverage processing," said North Carolina Commerce Secretary Anthony M. Copeland. "When North Carolina companies grow their operations in our state, it confirms the strength of our strong business climate, convenient location and capable workforce."

The North Carolina Department of Commerce led the state's support for the company's decision.

Although salaries will vary depending on the position, the average wage for all new positions will be $48,200. The current average annual wage in Guilford County is $47,955.

A performance-based grant of $50,000 from the One North Carolina Fund will help facilitate Pactiv's expansion in Guilford County. 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 contingent upon that condition being met.

"We are thrilled to have Pactiv expand in Guilford County," said N.C. Senator Michael Garrett. "Their additional investment and job creation in our state is a win for everyone."

"This is great news for our community," said N.C. Representative John Faircloth. "With a capable workforce, we are confident that Pactiv will continue to thrive in Greensboro for many years to come."

In addition to N.C. Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina Community College System, Guilford Technical Community College, Guilford County Economic Development Alliance, Greensboro Chamber of Commerce, High Point Economic Development Corporation, Guilford County Workforce Development Board, and City of Greensboro.

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