Business

Palziv, a plastics manufacturer, expands in Louisburg

April 10. Palziv North America, an internationally recognized manufacturer of polyethylene foams will add 40 jobs, thanks to a $5.2 millionexpansion in Louisburg in Franklin County. Palziv North America is a wholly owned subsidary of Israeli-based Palziv Ltd. It makes cross-linked, closed-cell polyethylene foams in rolls, blocks or semi-processed customized products. North Carolina Commerce Secretary Anthony M. Copeland said other companies in Israel “pay attention” when a manufacturing location is both productive and growing. “We welcome this expansion by Palziv, which adds to the state’s ranking as one of the top states for foreign direct investment in the nation,” he said.

The new positions in Franklin County will provide an annual payroll impact of more than $1.1 million to the local economy.

Palziv has seen significant growth in itsCrosslinked Foam Division, leading the company to invest here and “meet this growing North American demand,” said Paul Robertson, Palziv’s Chief Operating Officer. “With a great performance record from our Louisburg employees, combined with critical support from the state and local government, it became clear to us that Franklin County, North Carolina was the right choice.”

A performance-based grant of $40,000 from the One North Carolina Fund will help facilitate Palziv North America’s expansion in Franklin County. 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.

In addition to North Carolina Commerce and the Economic Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, Franklin County, and the Franklin County Economic Development Commission.

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