“International manufacturers appreciate North Carolina’s outstanding business climate and our strong focus on education and workforce training,” says Governor Cooper. “Today’s announcement is more proof that North Carolina is the place for companies from around the globe to grow and succeed.”
Albaad USA is a wholly owned subsidiary of Albaad Holdings, with headquarters in Israel. The company maintains manufacturing facilities in Israel, Germany, Poland, and the U.S. The company produces products in two broad categories, wet wipes and feminine hygiene. Leading products include baby wipes, cosmetics and household wipes, and tampons.
“We are very pleased to continue expanding our Albaad USA business in Reidsville,” says Gidi Tenne, plant manager for Albaad. “We continue to build on a great workforce, culture and community that supports advanced manufacturing jobs in Rockingham County. This merging of technology and a strong, creative workforce is the foundation of our success and we look forward to continued growth in the future.”
“In 2004, I was part of the team that recruited this outstanding Israeli company to North Carolina,” says North Carolina Commerce Secretary Anthony M. Copeland. “It’s been a great pleasure to watch their growth over the years, and we congratulate Albaad as they expand and add jobs once again.”
The North Carolina Department of Commerce and the Economic Development Partnership of N.C. (EDPNC) led the state’s support for the company’s expansion.
Albaad will add a variety of positions with this expansion, including engineers, technicians, and production and logistics personnel. Salaries for the new positions will average $38,300, which is higher than the current Rockingham County average wage of $34,620.
Albaad’s expansion in Rockingham County 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 will grow the state’s economy by an estimated $810 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 $3,688,200, 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.