North Carolina Governor Cooper Announces CommScope to Add 250 New Jobs in $60 Million Investment for Fiber-Optic Cable Manufacturing Operations

CommScope, a global telecommunications leader, plans to add 250 new jobs with a $60.3 million investment to expand its fiber-optic cable manufacturing operations in Catawba County, North Carolina, Governor Roy Cooper (D-NC) announced. CommScope develops, manufactures, installs, and supports network and hardware infrastructure for a digital society, such as the high-speed internet that connects people and places around the world. This project will upgrade the Catawba County facilities to increase the company’s capacity to produce fiber optic cable. The North Carolina Department of Commerce led the state’s efforts to support the company’s expansion in the state. CommScope’s expansion will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by more than $834 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 $1,899,900 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.