PITTSBORO — Downtown Pittsboro will soon have a new tenant.
EG-Gilero, a medical and drug delivery device manufacturer based in Morrisville, has purchased a property at 158 Credle Street near the corner of Hanks and Fayetteville Streets and is proposing to create 60 new jobs and invest $3.9 million in the property. In return, the company is seeking a property tax incentive from Chatham County.
Alyssa Byrd, interim president of the Chatham Economic Development Corporation, presented the incentive request to the Chatham County Board of Commissioners on Feb. 18. She said the building EG-Gilero is preparing to inhabit has been empty for six years. The company is proposing an average annual salary of $40,167 for the 60 employees that are projected to work at the facility in five years, the length of the investment.
Based on further studies, Byrd said, it’s estimated that the creation of every two jobs within this industry would create one more job somewhere else.
Kevin Miller, the company’s director of finance, told the commissioners that construction work on the space should begin within the next few months, with work beginning this calendar year. Milled added that the facility will house engineers and some light assembly of devices.
“The building is a perfect fit for our company,” Miller said. “There’s a lot of clean room and lab space in the building, but it has sat vacant for a number of years. We want to make it a little more attractive. We want it to have a nice clean feel to it.”
The company is also applying for a building reuse grant from the state, which requires a 5 percent local match. Byrd said the incentive, if approved by the county, could go toward that match.
Byrd recommended the county OK the grant “based on the proposed investments, the impact and what a great neighbor they would make in downtown Pittsboro.” Miller added that the company “love(s) Pittsboro” and sees it as a “hidden gem.”
“We’re looking forward to joining the community and getting to work,” he said.
The board did not vote on the incentive, but will discuss it at its March 18 meeting.