STATESVILLE, N.C. — The Sherwin-Williams Co. is making a larger investment in its Statesville expansion than initially announced. Local governments are set to consider new incentives for the project as a result.
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The Iredell County Board of Commissioners and Statesville City Council are scheduled to consider incentives this week for the Sherwin-Williams expansion, which documents show now calls for a total investment of just over $347 million. The project was formally announced in early 2022 as a $324 million investment. It includes the expansion of the company’s existing manufacturing facility in Statesville as well as the construction of a new distribution facility of approximately 800,000 square feet.
City and county documents show that the amended incentives could include a total value of just over $17.5 million. The original local incentives, which were approved last year, were worth approximately $16.5 million. Last year, the state also approved a $3.7 million Job Development Investment Grant for the Sherwin-Williams project.
(WATCH BELOW: Giti Tires says it still has time to fullfil agreement to create 1,700 jobs)
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