Lithium-Ion Battery Pouch Manufacturer Selects Davidson County for its First U.S. Operation
RALEIGH: Dai Nippon Printing Co., Ltd. (DNP), a lithium-ion battery pouch manufacturer, will create 352 new jobs in Davidson County, Governor Roy Cooper announced today. The company will invest $233 million to build its first U.S. advanced manufacturing facility in the City of Linwood.
Governor Cooper met with DNP Executives on his economic development trip to Tokyo in October. The Governor discussed the growing clean energy sector in North Carolina and encouraged DNP to choose Davidson County.
"My meeting with DNP in Tokyo last month was productive and I'm grateful they are building their EV battery pouch manufacturing facility in North Carolina which is yet another sign of our growing clean energy economy," said Governor Cooper. "We welcome them to Davidson County where we know they will find a world-class workforce and an excellent quality of life to support their new operation."
DNP, founded in 1876, is one of the world's leading printing companies. Utilizing print-based core technologies, it operates in various business fields. Particularly in the field of battery pouches for lithium-ion batteries, it has achieved the world's top market share.
DNP manufactures lithium-ion battery pouches for electric vehicles. The durable yet soft, flexible plastic packaging material will encase and protect EV battery cells. DNP has developed and produced packaging for smartphones, tablets, and laptops for more than three decades, providing lighter and lower profile pouches that resist heat and vibrations, protect from water, extend battery life, and increase fuel efficiency.
"From the east to the west, North Carolina's electric vehicle industry is growing exponentially," said N.C. Commerce Secretary Machelle Baker Sanders. "Our natural resources and our reputation for highly skilled talent and strong transportation infrastructure, continue to attract global leaders, like DNP, that share our commitment to sustainability."
The North Carolina Department of Commerce led the state's efforts to support DNP's location to North Carolina.
Although salaries for the new positions will vary, the average annual salary for the new positions is $50,281, which exceeds the Davidson County average wage of $49,956. The project could create a potential annual payroll impact of more than $17.6 million per year for the region.
DNP's project will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state's economy by $691 million. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $2,741,400 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.
Because DNP chose a site in Davidson County, classified by the state's economic tier system as Tier 2, the company's JDIG agreement also calls for moving $304,600 into the state's Industrial Development Fund - Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business.
"This is outstanding news for Davidson County and the entire state of North Carolina," said N.C. Senator Steve Jarvis. "This multimillion-dollar investment and new jobs will positively impact our region and we stand ready to support this next phase of growth for the company."
"It is my pleasure to welcome DNP to our corporate community," said N.C. Representative Larry Potts. "We appreciate the diligent work of the economic developers as well as the local and state partners that brought this project to fruition."
In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, the North Carolina Department of Transportation, the North Carolina Community College System, Davidson-Davie Community College, Golden LEAF Foundation, Davidson County, Davidson County Economic Development Commission, and the City of Linwood.
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