Wilmington considers $2 million incentive to secure Corning expansion

WILMINGTON, NC (WWAY) — A major economic development decision is now in the hands of Wilmington City Council, which will decide whether to contribute $2 million toward an incentive package designed to bring a major Corning expansion to New Hanover County.

County commissioners have already unanimously approved $3 million in incentives for the proposed expansion. The City Council is scheduled to vote Tuesday evening on whether to add $2 million to the package.

Corning, a multinational manufacturer of fiber-optics used in data centers and internet networks, is considering expanding its Wilmington operations. Local leaders hope the incentives will help secure the project and encourage the company to continue investing in the area.

“We’re pushing hard, and we really want them to end up selecting Wilmington, New Hanover County, as the place for them to make their expansion,” said New Hanover County Commissioner Dane Scalise.

Scalise said the county wants to encourage Corning to expand its existing Wilmington facility rather than pursue other locations.

“Corning is a major, multinational company. They have operations throughout the world, and we love that they’re here, they’ve been here for a long time, and the fact that they’re considering this area and that they want to expand their operations here is a really good sign,” said Scalise.

The proposed incentive package, known as Project Pearl 2, would provide financial incentives tied to the company’s investment in its facility and the jobs it creates.

Wilmington Chief of Staff Dennis Lacaria explained how the program works.

“It’s basically a credit against tax revenues that are generated through a business relocation or expansion. In this case, it’s an expansion. of an existing business, making an investment in their facility, hiring and jobs, and this was a package that had to be competitive as well, and we worked with our partners in the county, and everybody had an opportunity to share in this project,” said Lacaria.

Beyond the potential Corning expansion, city and county officials say incentives can help demonstrate that the region is prepared to compete for major business investments and attract additional employers.

“Whenever we showcase to the broader business community that we’re open for business, that we’re serious operators, this is something that brings more jobs to our community, that’s part of the value proposition here,” said Scalise.

City Council’s vote Tuesday will determine whether Wilmington joins the county in contributing to the incentive package as local leaders work to secure Corning’s proposed expansion.