Good things keep happening in High Point when it comes to economic development. On Monday, Nov. 4, the High Point City Council voted 8 to 0 to authorize up to $45,000 for a manufacturing project proposed by LLFlex.
If the company takes the city up on the offer and meets the benchmarks set out in the agreement, LLFlex would receive up to $45,000 in paid installments from the city’s Economic Development Incentive Fund, which is funded by general and electric revenues.
LLFlex sells metals-based laminates for packaging and for industrial use, especially in the wire, cable, construction and tobacco industries. The High Point project has a target opening date of January 2020 and will include paper and foil lamination and some laboratories for other services.
LLFlex will make its final decision in the next 30 days, but, when local governments such as High Point are at the point of officially offering incentives, it usually means a company has made its decision.
This project is expected to bring about 50 new jobs to the High Point area that pay an average of about $46,000 a year. There will be a mix of well-paying professional, engineering and management jobs. Initially, LLFlex plans to operate two shifts five days a week in a building at 738 Gallimore Dairy Road.
The project would increase High Point’s tax base by $5.5 million in property value.
