Cataler is paying $270,000 or $8,438 per acre (19 cents per sf) for the dirt. The company's first plant will be a $35 million 80,000 sf facility with plans to expand the structure to 120,000 sf over five years, according to the Lincoln Board of County Commissioners. The county and private investors jointly own the park.
Real estate sources familiar with Cataler's plans say the company searched for a site in Cleveland, Gaston and Iredell Counties before settling on Lincoln County. Cataler was attracted to the region because of NGK Ceramics, also a Japanese-owned company, sources say in a published article. NGK makes ceramic honeycomb materials for catalytic converters at its plant in Mooresville. NGK announced last year it will spend $40 million to expand its production facility in the South Iredell Industrial Park.
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