Hickory, N.C. – American Fuji Seal (AFS) entered into an Economic Development Agreement today to create at least 20 jobs and make investments in their existing facility in Trivium and to create a new facility on Lot 7 with a minimum investment of $10M with potential investments of up to $30 Million or more over the next three years.
AFS will purchase Lot 7 for $668,860 and has the option of receiving incentives on future investments to pay back all or a portion of that amount back based on their investments in these facilities. If they invest more than $30M under the terms of the agreement they will be able to apply 75% of future payments to the City of Hickory and Catawba County toward that $668,860 purchase price up to the total.
“In less than five years since welcoming American Fuji Seal to Catawba County, we are already celebrating their expansion at Trivium Corporate Center,” said Randy Isenhower, Chair of the Catawba County Board of Commissioners. “Their success demonstrates that Catawba County is not just a good place to do business, but also a good place to grow business.”
Hickory Mayor Hank Guess stated, ““We are excited to support American Fuji Seal’s continued growth in Hickory through this significant new investment at Trivium Corporate Center. AFS’s decision to expand their operations and create new jobs reflects the strength of our local workforce and the value of doing business in Hickory. This agreement brings immediate economic benefits and lays the groundwork for long-term partnership and prosperity. We look forward to seeing AFS thrive as they deepen their roots in our community.”
All of these agreements are contractually based with minimum performance provisions in the event of default as required by NC General Statutes.
Others involved include Trivium Corporate Center Inc., and the Catawba County Economic Development Corporation.