Carolina Botanicals, a company formed to process industrial hemp, will create 30 jobs as it establishes operations in Columbus County. The company will invest $3.46 million in its new facility, located in Tabor City.
“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. All products that Carolina Botanicals makes will be tested by third-party testers to confirm the quality of hemp and CBD ingredients.
“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.”
“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,” added Copeland. “We’re hopeful that Carolina Botanicals is one of the many new companies being created to produce hemp products that will realize our state is the perfect fit for their business.”
The North Carolina Department of Commerce was instrumental in supporting the company’s decision to expand to the state. 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 the business community in Columbus County.”
In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, North Carolina Community College System, Southeastern Community College, Columbus County, Columbus County Economic Development Commission, Town of Tabor City and the Tabor City Committee of 100.