WILMINGTON, N.C. (WWAY) — Corning Inc. is reportedly the company behind a proposed $585 million expansion in Wilmington that could create more than 400 jobs.
According to the Greater Wilmington Business Journal, the optical fiber manufacturer has been identified as the company associated with an economic development proposal known as Project Pearl 2.
Wilmington City Council and the New Hanover County Board of Commissioners are expected to consider a combined $5 million in economic development incentives for the project next week.
While Corning is not named in the public meeting agendas, documents show the proposed expansion would create 414 full-time jobs over five years, with an average annual salary of $85,080.
The project would also involve $585 million in investments toward property, facilities and equipment.
Under the proposal, New Hanover County would provide up to $3 million in incentives over five years, while the city of Wilmington would contribute up to $2 million.
The payments would be tied to specific job creation and investment requirements, meaning the company would have to meet certain targets to receive the incentives.
According to city documents, the company would need to create 16 jobs and invest $50.5 million in 2027 to qualify for that year’s maximum city payment of $400,000.
The jobs would have to be full-time positions based at the Wilmington facility and maintained through 2031.
Corning already operates a manufacturing facility on North College Road in Wilmington, employing approximately 1,000 people.
The company has recently announced major agreements with technology companies, including Amazon, Meta, NVIDIA and AT&T, as demand for optical fiber continues to grow.
In a statement to the Business Journal, a Corning spokesperson declined to comment on the potential expansion, citing the ongoing government process.
Public hearings on the proposed incentives are scheduled during next week’s Wilmington City Council and New Hanover County Board of Commissioners meetings.
Neither government has approved the incentives, and the company’s involvement has not been officially confirmed in the public agenda documents.
