MONROE – Union County commissioners have awarded economic incentives to convince Stafford Corrugated Products to stay in Indian Trail to build a new manufacturing and distribution building in the Old Hickory Industrial Park.
Commissioners approved a grant April 20 of up to $115,000 paid over five years beginning in fiscal year 2022 based on the company’s $5 million investment and the hiring of three or four new employees.
The county expects the project will generate $182,725 annually in property taxes over the grant cycle.
Ron Mahle, of Monroe-Union County Economic Development, told commissioners that Stafford Corrugated Products approached his office in 2016 about a potential expansion with discussions resuming up in late 2019.
The firm, which specializes in manufacturing and distributing products for the corrugated box industry, sought incentives to build a 50,000-square-foot building in the industrial park, according to Mahle.
“That structure will serve as its headquarters for all of its sales, marketing, production and distribution needs,” Mahle said.
The company has been located in Indian Trail since 1994. It employs 25 people.