Loba-Wakol, a supplier to the wood and resilient flooring industry, is preparing to build a new distribution and warehouse in Anson County.
The company plans to invest $6.6 million to build the facility in Wadesboro. The investment is expected to create 24 jobs.
Loba-Wakol is the North American subsidiary of two German manufacturing companies, Loba and Wakol, which supply adhesives and finishes. They manufacture adhesives and coatings for the flooring industry and produce products for the upholstery industry, mattress industry, and the metal packaging industry as well.
The Wadesboro facility will be established as a distribution and warehouse with room for future expansion.
A performance-based grant of $70,000 from the One North Carolina Fund will help facilitate Loba-Wakol’s move into Anson County. The 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.