BY KARISSA MILLER
Iredell County commissioners on Tuesday held a public hearing and approved a $33,466 economic development incentive for Accuma Corp.
The company, which has operated in Iredell County for 41 years, is considering an expansion and the addition of a new product line at its facility at 133 Fanjoy Road in Statesville. Accuma manufactures plastic molding products for the battery industry.
The project would involve an estimated $3.2 million investment in machinery and equipment. The full investment is anticipated by December 31, 2027, officials stated.
Iredell County Economic Development Corporation President & CEO Jenn Bosser presented the incentive request on Accuma’s behalf. Under the proposed agreement, the company could receive an incentive grant of up to $33,466 over five years, or an average of about $6,693 annually. The grant would be based on 50 percent of the new property taxes generated by the purchase of the new machinery and equipment.
According to Bosser, the project would enable Accuma to diversify its manufacturing operation and expand its capabilities while supporting existing jobs and future growth.
If the project moves forward successfully, Bosser said...