The City has limited areas for existing business to grow into and where new business can be located. It’s true that Hickory has had many empty manufacturing buildings; however, most of these are obsolete and no longer meet the needs of new businesses. Many companies also want to be in a business park, where, just like a neighborhood, they know what types of industry their neighbors will be and that development will be controlled.
Trivium Corporate Center is a joint development of the City of Hickory, Catawba County, and the Economic Development Corporation, as one of the four City of Hickory bond projects. The City has allocated $4.5 million of the bond funds to Trivium Corporate Center.
The City of Hickory and Catawba County entered into an agreement on March 21, 2016 to equally cover the cost of development, with each contributing $547,385, for sanitary sewer outfall extension to the site and an entrance road development with landscaping off Startown Road.
The City and the Catawba County Economic Development Corporation (EDC) were awarded a grant from the North Carolina Industrial Development Funds in the amount of $671,920 with a matching requirement of 100 percent. The grant proceeds will be used for sanitary sewer outfall extension to the site in the amount of $361,900 and entrance road development with landscaping off of Startown Road in the amount of $310,020.
By providing the necessary infrastructure, the EDC’s marketing efforts will be enhanced and Trivium Corporate Center will be more attractive to prospective businesses. Ideally, multiple advanced manufacturing industries will purchase parcels within the 170 acres tract.
However, if the land fails to be sold by 2021, the City and County will be obligated to purchase the land at $3.8 million ($1.9 million each) for the full 170 acres or will purchase the remaining parcels of the land that have not been sold. Since the final cost to the City is in flux until 2021, there may be some flexibility with the $4.5 million bond dollars allocated for the business park.
An official ground breaking ceremony was held on May 16, 2018 to celebrate the the start of construction for Trivium Corporate Center. The historic ground breaking also marked the beginning of construction on the first of four City of Hickory bond projects.
Corning Incorporated - On August 14, 2018, Corning Inc. was announced as the first tenant in Trivium Corporate Center. Corning plans to build a cable manufacturing facility in the park for its Optical Communications business segment, creating approximately 110 jobs over the next five years and investing $60 million in this location. Learn more.
ITM - On December 20, 2018, ITM Isotopen Technologien München AG (ITM), a group of specialized radiopharmaceutical companies, was announced as the second tenant in the business park. ITM plans to construct a manufacturing facility in the park, its first facility in the United States, for the production of a new generation of targeted radiopharmaceuticals for the treatment of cancer patients. ITM plans to create 137 jobs and invest $12 million in machinery and equipment over the next five years, and an additional $5 million in new facility construction in this location. Learn more.
Cataler - On December 18, 2019, Cataler North America Corporation, a Toyota Motor Corporation affiliate, was announced as the third tenant for the Trivium Corporate Center business park. Cataler North America Corp., a subsidiary of Cataler Corporation headquartered in Kakegawa, Japan, plans to construct a 100,000-square-foot (expandable to 300,000-square-foot) manufacturing facility for the production of automotive catalysts for some of the world’s largest producers of automobiles. Over the next five years, Cataler North America plans to create 151 jobs and invest a minimum of $42 million in new facility construction, machinery, and equipment. Learn more.
Stonemont Spec Building - On May 28, 2020, Stonemont Financial Group (SFG) has announced plans to construct a 192,000 sq. ft. speculative building in Trivium Corporate Center. SFG will partner with Delco Partners with construction by Hickory-based David E. Looper & Company. The Stonemont Spec Building is expected to be completed to its shell state by April 30, 2021. Learn more.