Hemp company bringing jobs, investing $3.4 million in Tabor City
TABOR CITY, NC (WWAY) — Carolina Botanicals, a company formed to process industrial hemp, will create 30 jobs as it establishes operations in Columbus County, Commerce Secretary Anthony M. Copeland announced in a news release.
The company will invest $3.46 million in its new Tabor City facility.
“Today’s announcement is the latest example of the growing market for hemp-related products,” said Secretary Copeland. “And we know companies like Carolina Botanicals will find success here with our strong agricultural footprint, solid economy and available workforce.”
Carolina Botanicals is a commercial processor of industrial hemp biomass. The raw product will be used to produce distillate and other products, including winterized oil, CBD distillate and eventually CBD tincture.
Carolina Botanicals hopes to source its hemp from farmers in North and South Carolina.
“It is heartening to know that our new business, while producing a product with all the health benefits of CBD, will also be providing needed economic stimulus to the downtown area of Tabor City,” said Earl Singleton, Jr. President of Carolina Botanicals, LLC. “We look forward to becoming a part of the Tabor City and Columbus County business communities. My investors and I are very pleased that the state of North Carolina, Columbus County and Tabor City have embraced our proposed business. Their support was demonstrated today by the awarding of these generous grants.”
Copeland said North Carolina is the third largest state for farming, and hemp has become a popular crop since the state’s pilot program began in 2014.
Salaries for the new jobs will vary by position but the average annual wage will be $35,496. The average annual wage in Columbus County is $33,817.
A performance-based grant of $100,000 from the One North Carolina Fund will help facilitate Carolina Botanicals’ new operation in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs.
Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.
“Congratulations to Carolina Botanicals on their exciting news today,” said N.C. Rep. Brenden Jones. “We know they’ll find success here and be a welcome addition to business community in Columbus County.”