• 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
  • Trump to formally accept Republican presidential nomination in speech altered after assassination attempt
  • Top Republican demands Biden admin block Iranian foreign minister’s visit to UN: ‘an insult’ to victims
  • Captured Hamas terrorists say group is ‘collapsing from within,’ says Israel’s defense minister
  • Can Harris use Biden’s campaign funds? And is she eligible to appear on general election ballot?
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

Speaker Johnson talks 2024 with Trump at Mar-a-Lago as Haley...

February 21, 2024

College anti-Israel agitators could be sent to Gaza under new...

May 9, 2024

South Dakota legislative session marked by tax cuts, election reform,...

March 14, 2023

5 key demands House conservatives are making before taking partial...

September 12, 2023

Trump-aligned super PAC sees surge in fundraising

January 26, 2024

Schumer won’t say if he’ll take up House bill freezing...

December 7, 2023

Dem senator to fundraise with supporter of Sisters of Perpetual...

June 3, 2023

Iran accuses Israel of blowing up natural gas pipeline in...

February 22, 2024

Israel recovers 6 dead hostages in ‘complex rescue operation,’ says...

August 20, 2024

Mask confusion enters Congress again as COVID-19 cases tick up

September 13, 2023

    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

    • Boeing would avoid guilty plea, prosecution over 737 Max crashes in possible DOJ deal

      May 17, 2025
    • S&P 500 Now in Weakest Seasonal Period… Or Is It?

      May 17, 2025
    • Emerging Stocks to Watch – Breakouts, Momentum & Upgrades!

      May 17, 2025
    • The Stock Market’s Comeback: Key Takeaways for Investors

      May 16, 2025
    • Cava revenue beats estimates as Mediterranean chain reports double-digit same-store sales growth

      May 16, 2025

    Popular Posts

    • 1

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

      June 27, 2024 2,647 views
    • 2

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

      August 9, 2024 2,346 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,331 views
    • 4

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

      July 10, 2024 2,308 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,191 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,085)
    • Investing (538)
    • Stock (2,553)

    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

    • Boeing would avoid guilty plea, prosecution over 737 Max crashes...

      May 17, 2025
    • S&P 500 Now in Weakest Seasonal Period… Or Is It?

      May 17, 2025
    • Emerging Stocks to Watch – Breakouts, Momentum & Upgrades!

      May 17, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,085)
    • Investing (538)
    • Stock (2,553)

    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

    House Speaker Johnson to meet with...

    November 30, 2023

    McCarthy move to end proxy voting...

    January 20, 2023

    Hamas had command tunnel underneath UNRWA’s...

    February 12, 2024
    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