Perdue, Bev. Press Release, 2009-05-27, Global Manufacturer to Expand in Eden, Relocate Headquarters to Cary

Beverly Eaves Perdue Governor State of North Carolina Office of the Governor 20301 Mail Service Center • Raleigh, NC 27699-0301 May 27, 2009 Contact: Chris Mackey Office: (919) 733-5612' Global Manufacturer to Expand in Eden, Relocate Headquarters to Cary State Grant Helps Loparex Bring 128 Jobs to N. C. Gov. Bev Perdue today announced that Loparex LLC, a global manufacturer of polycoated and silicone-coated papers and films, will expand its manufacturing operation in Eden and relocate its U.S. headquarters from a Chicago suburb to Cary. The company plans to invest $ 1 8.9 million and create 128 jobs — 68 in Eden and 60 in Cary — during the next three and one-half years. “This project demonstrates clearly the unique qualities that make North Carolina a top choice for global companies looking to invest and expand,” Gov. Perdue said. “We are able to provide a well-trained workforce with experience in advanced manufacturing, still a very important part of our economy, as well as top scientific talent for research and development collaboration, resulting in 128 well-paying, sustainable jobs.” The state’s Economic Investment Committee met today and voted unanimously to award a Job Development Investment Grant to Loparex to facilitate the expansion in Eden and the headquarters relocation to Cary. Grantees receive no up-front money and must meet agreed-on figures for job retention, job creation and average wages to receive grant funds. Under terms of the performance-based grant, the average annual wage of the Eden jobs will be $52,323, not including benefits, significantly greater than the Rockingham County average of $29,796. The average annual wage for jobs in Cary will be $93,347, not including benefits, more than twice the Wake County average wage of $43, 160.