On Tuesday, Gov. Roy Cooper announced Abstract Ice Inc., a manufacturer of specialty ice products, will be coming to Forest City, North Carolina. The manufacturing facility is projected to create 26 new jobs and invest $14.7 million.
“Today, we celebrate Abstract Ice investing in Rutherford County,” Gov. Roy Cooper said in a press release. “Western North Carolina is open for business, and innovative companies like Abstract Ice will continue to invest in our state with our highly skilled workforce, strong infrastructure, and great quality of life.”
Abstract Ice, founded in 2018, manufactures ice on a large scale. They produce a variety of slow-melting, crystal-clear products that they boast add beauty while lessening dilution. The company has engineered new technology that automates the labor-intensive process of hand-crafting cocktail ice. The company chiefly serves bars, grocery stores, and event venues. Abstract provides artisanal ice in various shapes and sizes, from custom-etched cubes with logos or artistic designs to spheres, tall cubes, and gem-like shapes.
The California-based company is expanding its capacity to meet national demand with this new Forest City facility.
“We are excited to be coming to North Carolina and look forward to becoming a part of the Forest City community,” said Todd Stevenson, CEO of Abstract Ice. “We were attracted to make North Carolina our new facility’s home in part due to how business-friendly you have been, and we are grateful for the support we’ve received from the State as well as Rutherford County and Forest City.”
Wages will vary depending on position, but the average annual salary for new jobs the company will bring is $57,038, exceeding the average earnings in Rutherford county ($45,030) by more than $12,000.
“Abstract Ice’s expansion in North Carolina reinforces our reputation as a top destination for innovative and visionary companies,” said NC Commerce Secretary Machelle Baker Sanders. “Their presence will energize our local economy and tap into our state’s diverse and skilled manufacturing workforce in the Rutherford County area.”
One North Carolina Fund will provide a $75,000 grant to facilitate the expansion. Unlike the Job Development Investment Grant, this is a performance-based grant. Companies do not receive money upfront and must meet job creation and capital investment targets to qualify for receipt of funding.
One NC Fund uses taxpayer money to assist local governments in attracting economic development investments. The local government and payment must match all grants from One NC Fund, which is contingent on meeting the designated job and impact targets.
“We are thrilled to see how Abstract Ice’s explosive growth will not only create jobs but also enrich our community,” said Rep. Jake Johnson (R-Henderson, Rutherford, etc.,). “This company is truly setting a new standard for excellence in the industry.”
Last week, Gov. Cooper made a similar announcement regarding a semiconductor manufacturing facility in Greensboro, also funded by the One North Carolina Fund.
“Congratulations to Abstract Ice on their exciting expansion to North Carolina,” said Sen. Timothy D. Moffitt (R-Henderson, Rutherford, etc.,). “This milestone reflects our shared commitment to fostering economic growth and innovation across our state.”
Partnering with the NC Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in this project included the North Carolina General Assembly, Commerce’s Division of Workforce Solutions, North Carolina Community College System, Isothermal Community College, Rutherford County and the Town of Forest City.
While executives noted North Carolina’s business-friendly environment, in which low taxes and sensible regulation are complemented by a strong workforce and a diverse economic landscape, some experts worry the continued use of corporate incentive programs amounts to corporate welfare.
“Despite continuous clamoring that corporations need to pay their fair share in taxes, Governor Cooper perpetually provides corporate welfare to his favored producers,” Joseph Harris, fiscal policy analyst for the John Locke Foundation, told the Carolina Journal. “Economic development incentives like the One North Carolina Fund benefit politicians and subjectively selected corporations but fail to generate legitimate economic benefits for the state. Moreover, these handouts come at the taxpayers’ expense and discriminate against businesses that do not receive government incentives.”