Ohio packaging company Axium confirms it's coming to Archdale
February 28, 2023
Axium Packaging of New Albany, Ohio, is the company planning to invest $36 million and hire 129 workers in Archdale, the Randolph County Economic Development Corporation announced Tuesday.
The maker of blow molding plastic packaging for a range of markets expects to start operations in the first quarter of 2024. Its expected investment includes $15 million in real property and $21 in other property and equipment over five years. The new jobs will pay an average of $47,938.
Archdale and Randolph County have approved incentive packages of $440,613 and $215,885 over five years out of increased tax revenues.
The company had not been named, as is common when manufacturing companies are believed to be considering more than one community.
The Randolph County EDC proposed a 35-acre site at 907 Eden Terrace, with the EDC, county, city and Greensboro developer and builder Samet Corp. had shared in having environmental and engineering preparation complete, according to the agency.
Axium produces packaging for personal care, household chemical, over-the-county pharmaceutical, and food markets. Archdale will be its 19th North American location, according to chief financial officer Ven Bhindwallam.
Axium also was approved for state incentives: $365,000 over three years from the One NC Fund, and $180,000 for customized training by the North Carolina community college system. It also will get a discount on electricity from Duke Energy. The Economic Development Partnership of North Carolina also assisted.
Axium is one of central Ohio’s largest employers. It has 3.5 million square feet of manufacturing space at 18 facilities across the United States, Canada and Mexico. It employs over 3,600 people. In late 2022, it announced an expansion near its headquarters near Columbus.
It was acquired in 2020 by the food-oriented investment organization Cerea Partners, according to S&P Global.
Source: Triad Business Journal