Mount Holly manufacturing facility announces significant expansion
A manufacturing company with a facility in Mount Holly announced plans to significantly expand its operations this year.
Gold Bond Building Products will invest a total of $90 million in an expansion of its Mount Holly facility, according to county records.
The company announced the expansion in a joint meeting between Gaston County and Mount Holly leaders on Tuesday.
The expansion will create around 11 new jobs and retain 100 existing jobs, according to county records.
Gold Bond Building Products, an affiliate of National Gypsum Company, is the leading U.S.-based manufacturer of gypsum wallboard. The company produces a full line of products including ceiling board, sheathing, shaftliner, tile backer, pre-finished board and plaster products.
The expansion to the Mount Holly facility is anticipated to begin in the coming months. The construction is expected to be completed in 2024, although that timeline depends on the availability of materials, said Donny Hicks, the executive director of the Gaston County Economic Development Commission.
As part of the expansion, Gold Bond will be installing a rail line and related infrastructure to transport some of their product, Hicks said.
"There will be more in-bound shipments by rail that are currently being done by truck, so that's good for everybody," Hicks said.
Gold Bond has had a facility in Mount Holly since 2007.
Gaston County has offered economic incentives to Gold Bond, returning to the company a portion of their first property tax payment after the facility is built. Under the current tax rate, the county would pay the company roughly $3.3 million over a 10 year period, and Mount Holly will pay about $1.8 million over the same period.
Hicks said that Gold Bond's continued investment in the Mount Holly facility is a reaffirmation of how much the company values that facility.
"It sends a message I think to the employees and to the community that they're here to stay, that that plant has a long lifespan left in it," Hicks said.
This article originally appeared on The Gaston Gazette: Mount Holly manufacturing facility announces significant expansion
