An Israeli foam manufacturer is expected to add 40 jobs at its North American headquarters in Louisburg, in exchange for state incentives amounting to $1,000 per job created and additional incentives from Franklin County.
Palziv North America is expected to eliminate 40 jobs in Canada and create the same number of jobs in Louisburg, about 30 miles northeast of Raleigh. Palziv is expected to create the jobs by 2020 and would receive $1,000 per job from the One North Carolina Fund as well as a matching grant from Franklin County.
The company will also invest $5.2 million at its facility, largely to purchase new equipment.
Franklin commissioners are scheduled to meet April 24 to approve the county incentives, said Franklin County Economic Development Director Richie Duncan. Palviv stands to receive $131,982 in a cash grant over four years from Franklin County, representing 3 percent of the increase in Palviv’s business and property tax valuation that will result from the new equipment that will be installed.
Never miss a local story.
The new jobs will be in advanced manufacturing, which relies on computers and sophisticated equipment, as well as positions in packing. When the jobs are filled Palziv will employ about 200 people in Franklin County.
The county’s largest employers are industrial enzyme maker Novozymes, with more than 600 employees, and telecommunications provider CenturyLink, with about 400.
Palziv, with 350 employees worldwide, employs 157 in Louisburg and has been manufacturing at the site since 2009. Palziv replaced HON Furniture, which closed shortly before Palziv moved in. Palziv started out with 72 positions, and has since qualified for two rounds of state incentives for expansions at the site.
The starting annual pay for the new positions will average about $28,000; the Franklin County average wage is nearly $40,000 a year.
The company’s foam products are used in foam padding under carpeting, in gymnastics floor mats, and in car wash brushes, among other products.