• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy NC Gov. Cooper urges against large paper mill’s closure
Economy

NC Gov. Cooper urges against large paper mill’s closure

by March 17, 2023
by March 17, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Gov. Roy Cooper on Thursday urged the operators of a large western North Carolina paper mill set to shutter to find a way to keep it running, saying a closure would have a ‘devastating effect’ on the region and its people.

Pactiv Evergreen announced last week that it expected to close its Canton mill during the second quarter as part of a restructuring of its beverage merchandizing operations. About 1,100 employees are expected to lose their jobs.

In a letter, Cooper asked Pactiv Evergreen USA CEO Mike King to ‘explore all options’ to keep the mill operating, whether through a sale, repurposing of the plant, or through any other means.

The mill ‘has been in operation for more than a century and has been the lifeblood of that town and region,’ Cooper wrote. ‘Our priority remains to support the people affected by this unexpected closure by providing any available resources to their relief and recovery.’

The company said in its March 6 announcement that about 1,300 positions would be eliminated with the closing of the Canton mill and a converting facility in Olmsted Falls, Ohio.

Cooper also put the company on notice that the state would seek to recover $12 million in state-funded incentives received to keep the mill operating if it closed.

A Job Maintenance and Capital Development grant agreement announced in late 2014 between the state and two subsidiaries required the company to retain at least 800 full-time workers through the end of 2024, according to Cooper.

‘If you follow through your announced plans, we will demand full repayment of those funds,’ Cooper wrote.

Attorney General Josh Stein on Thursday sent a separate letter to King that went further, demanding his company repay the grant funds immediately based on ‘the company’s clear intent to breach’ the agreement. Stein also reminded King of Pactiv Evergreen’s responsibilities to address any outstanding environmental issues at the mill site.

Local officials have pledged resources to the workers who are expected to be laid off. Cooper’s state government budget proposal released on Wednesday recommended $5 million be set aside to support employee and community needs in Canton. The budget document said any incentives clawed back from the two subsidiaries would be used to help Canton.

This post appeared first on FOX NEWS
You Might Also Like
  • State Department criticizes Israel’s attempts at ‘mitigating civilian harm’ in Gaza war: report
  • S&P 500 and Nasdaq: Targets and Prices for Friday
  • Turkish lawmaker who suffered heart attack after saying Israel will suffer ‘the wrath of God’ has died
  • Eric Swalwell spent more campaign cash on travel and luxury accommodations than Nancy Pelosi
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Mar-a-Lago staffers subpoenaed for Trump classified document investigation
next post
Michigan loses appeal over former governor’s acquittal in Flint water case

You may also like

VP Harris could face more scrutiny from GOP if she...

July 23, 2024

House GOP blame game erupts after Johnson forces through $95B...

April 23, 2024

Speaker Johnson tells Republicans campaigning against each other in primaries...

March 18, 2024

GOP senators could block Jack Lew from Israel ambassadorship over...

October 17, 2023

Alaska Legislature passes bill to keep gun stores open during...

May 18, 2023

Five Democrats who may retire ahead of 2024 Senate elections...

March 12, 2023

Tensions reach boiling point in House GOP meeting hours before...

September 30, 2023

Another Southern California school district implements parental notification policy

August 25, 2023

The S&P 500 and Nasdaq retreated to new lows yesterday

October 2, 2024

Is it too late for DNC delegates to abandon Biden?...

July 12, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    David Marcus: Meet the RFK Jr...

    August 22, 2024

    ‘Nothing would remain’: Iran’s president vows...

    April 17, 2024

    These 4 senators are the most...

    January 31, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here