Scotland County’s Economic Boost
Scotland County is set to receive a significant economic boost thanks to a $40 million investment and the promise of 43 new jobs, as announced by Governor Josh Stein. This investment comes from Great Southern Wood-NC, Inc. (GSWNC), which is set to build a pressure-treated lumber manufacturing facility at the Laurinburg-Maxton Airport.
Governor’s Statement
Governor Stein expressed enthusiasm about GSWNC’s decision to establish operations in North Carolina. He highlighted that the facility will enhance the state’s $41 billion forestry industry, generating new opportunities for workers in Scotland County and the surrounding areas.
Company Background
Founded in Alabama in 1970, GSWNC operates 16 treatment plants, and the new location in Laurinburg will be its 17th facility. The new plant aims to produce pressure-treated pine and will supply building materials to various sectors, including residential, commercial, industrial, and agricultural markets in 28 states and Washington, DC.
Funding Details
The project will receive a $200,000 performance-based grant from the One North Carolina Fund, which supports local economic development initiatives. This fund is designed to attract investment and create jobs, but disbursements require that companies meet specific hiring and investment benchmarks. Local governments must also match the grants to ensure accountability.
Criticism of Government Incentives
However, the announcement has drawn criticism from some experts. Brian Balfour, senior vice president of research at the John Locke Foundation, argued that the grant is unlikely to sway the company’s decision and suggested that it represents an expensive public relations effort at taxpayers’ expense. He advocates for minimizing government intervention in favor of focusing on property rights and reducing taxes and regulations for businesses.
Job Opportunities
The new jobs at GSWNC will offer competitive salaries, averaging $60,827, which surpasses Scotland County’s average salary of $49,091 by $11,736. This salary increase is expected to provide a significant boost to the local economy and workforce.
