Governor Roy Cooper held a meeting with executives from Dai Nippon Printing (DNP) in Tokyo last month. During the meeting, Cooper highlighted the booming clean energy sector in North Carolina and urged DNP to consider Davidson County as the location for its next manufacturing plant. The meeting was successful as DNP committed to investing $233 million to construct its first advanced manufacturing facility in the US, in Linwood.
Cooper announced today that the new facility will create 352 job opportunities in Davidson County. He expressed gratitude towards DNP for choosing North Carolina as the site for their EV battery pouch manufacturing facility, which is yet another positive signal for the state’s clean energy economy. Cooper also extended a warm welcome to DNP to establish their new operation in Davidson County, where they can leverage the world-class workforce and excellent quality of life.
Dai Nippon Printing Co. (DNP)
Founded in 1876, DNP is one of the world’s leading printing companies. They have utilized print-based core technologies and operates in various business fields, particularly battery pouches for lithium-ion batteries, in which DNP has the world’s top market share. Lithium-Ion battery pouches for electric vehicles are durable yet soft, flexible plastic packaging material that encase and protect EV battery cells.
For more than three decades DNP has developed and produced packaging for smartphones, tablets, and laptops. Providing lighter and lower profile pouches that resist heat and vibrations, protect from water, and extend battery life.
DNP’s project will receive support from a Job Development Investment Grant (JDIG) that has been approved by the state’s Economic Investment Committee. Over a period of 12 years, this project is expected to boost the state’s economy by around $691 million. As per the JDIG agreement, the company may potentially receive up to $2,741,400 in reimbursement spread over 12 years. However, the State will only make these payments after verifying that the company has met its incremental job creation and investment targets. It is worth noting that JDIG projects typically result in a net tax revenue gain for the state treasury, even after accounting for the grant’s reimbursement payments to a particular company.
DNP has selected a location in Davidson County, which is categorized by the state as an economic tier system, specifically Tier 2. As per the JDIG agreement, the company will transfer $304,600 to the state’s Industrial Development Fund-Utility Account. This fund will aid rural communities throughout the state in funding essential infrastructure upgrades that will enable them to attract future businesses.