Catawba Manufacturer and Verizon Reach Billion Dollar Deal

Newton, N.C. – Following its announcement of a $67 million manufacturing expansion in Catawba County this February, Corning, Inc. (NYSE:GLW)  reached a billion-dollar deal this week to supply the type of optical cable and network infrastructure it will produce to Verizon, Inc. (NYSE:VZ).

The decision bodes well for Corning’s newest North Carolina-based facilities that “invent, make and sell high-performance fiber optic solutions to global network operators” amid a telecom race to provide 5G wireless service across the United States.

Corning Optical, a manufacturing subsidiary of the material sciences and technology corporation, will open a new facility in Newton, North Carolina and create 210 new jobs.

The announcements follow North Carolina’s top-ranking for tech job growth in an industry study released in February.

Speaker Tim Moore released  statement:

“North Carolina is attracting next-generation jobs and cutting-edge industries with low taxes, an attractive business climate and smart investing of our budget surplus produced by private sector growth,” Moore said.

“The North Carolina House is committed to continuing our pro-business approach, educating a world-class workforce and building a thriving, digital age economy.”