Woodstock Company To Expand Into Canton
International Thermocast has closed on a deal to expand into 98,000 square feet of space in Canton.
A Woodstock-based company has closed on a deal to expand its footprint into Canton.
The Cherokee Office of Economic Development announced Thursday that International Thermocast has closed on a deal that would allow them to expand into a 98,000-square-foot building at 189 Etowah Industrial Court in the Canton-Cherokee Business & Industrial Park.
The facility sits on roughly eight acres just off Cumming Highway/Highway 20 near Interstate 575.
Nathan Anderson and Joseph Mullican of NAI Brannen Goddard represented the landlord in the lease, and Misti Deale of PalmerHouse Properties handled the transaction for the tenant.
The company closed on the facility's purchase on Dec. 6, and the move will bring between 75 and 100 jobs to Canton.
Created in 2004, an opportunity zone is a state designation that allows local governments to provide tax incentives for economic development and revitalization of pockets of poverty.
Benefits include eligibility for a $3,500 tax credit for each new job created, the use of job tax credits against 100 percent of income tax liability and withholding taxes, and the expansion of the definition of business enterprise to include businesses of any kind.
The move will allow International Thermocast to accommodate the growth they've seen at its existing 75,000-square-foot manufacturing facility in the Bell Industrial Park and provide them the space needed to add a new line of composite kitchen and bath products to its existing customer base.
The company plans to also remain in its Woodstock location.
"After 22 years of manufacturing and merchandising quality craftsmanship kitchen and bath products to the USA, Canada, and Mexico, we are confident that this new transition will position our company to continue as the leader in our industry to further develop new and innovative composite kitchen and bath products," International Thermocast President & CEO Mark Anderson said.
International Thermocast builds and distributes technologically advanced cast acrylic and composite stone sinks and plumbing products.
It also creates various types of sinks including those used for laundry, kitchen, bath and entertainment.
Canton Mayor Gene Hobgood noted the city is "happy International Thermocast chose Canton and will provide additional job opportunities for residents."
"We were pleased to help in the location and look forward to working with them to make this new facility a success," he added.
Cherokee Office of Economic Development Board Chair Marshall Day noted the move shows how "our existing industries in 2012 have been remarkable."
"It is an indicator that Cherokee is not only a great place to live, but also a great place for business," he added.