Guilford County’s business community likes it when a new business comes to the area but business leaders also enjoy it quite a bit when an existing company in the area has a large expansion.

That’s the situation for Banknote Corporation of America, which has chosen northeast Guilford County for its large expansion that will create 50 new jobs and bring a new investment of $28 million to the county. The 20,000-square-foot expansion will take place off of 6109 Corporate Park Drive.

US-based Banknotes, a subsidiary of CCL Industries Inc., produces things like high-security identification badges for people in sensitive occupations, digital document authentication tools and other tools that governments, financial institutions and consumer brands need to conduct secure communications and transactions.

The company works to battle counterfeiting and introduces advanced security features in identification and document production.

Brent Christensen, the president and CEO of the Greensboro Chamber of Commerce, said this decision by the company is a terrific endorsement of Guilford County and the region as a whole. Christensen said the fact that companies here are “doubling down on their investment into our community” sends a great message to other companies that are looking to locate or expand their own businesses.

 He added that companies across the country are aware of the fact that Guilford County and North Carolina are great places to start or expand business.

Greensboro Mayor Nancy Vaughan, as expected, was delighted with the decision of the company to grow near the city.

“The city has been focused on securing investments throughout Greensboro,” Vaughan said on Wednesday, Sept 4. This expansion supports that effort and our commitment to add diverse jobs to the workforce.

It’s also interesting that the company is expanding without incentives being offered by the county.

 Chairman of the Guilford County Board of Commissioners Skip Alston was also very happy to see more business growth in Guilford County – which has been on quite a roll lately when it comes to economic development. The more business investment, the greater the tax base – and the more money the county commissioners have to spend.

“It’s another great day for Guilford County as we begin our new chapter with Banknote,” Alston said. “This is one more example of a world-class company deciding to deepen its roots in the Triad – and we look forward to a long and mutually beneficial relationship.”

 Timothy Finn, the general manager of Banknote Corporation of America, had this to say about the move: “We are thrilled to announce our expansion in Guilford County, which reflects our commitment to growth and innovation. This investment not only underscores our confidence in the local economy but also our dedication to contributing positively to the community and enhancing our capacity to serve our clients more effectively.”

The Guilford County Economic Development Alliance, the Greensboro Chamber of Commerce and High Point Economic Development Corporation worked together with the Economic Development Partnership of North Carolina, the City of Greensboro, Guilford County, North Carolina Agricultural and Technical State University, Duke Energy, Guilford Technical Community College, the Guilford County Workforce Development Board, Piedmont Natural Gas and the North Carolina Department of Commerce to get Banknote Corporation’s new investment in Guilford County.

About