WESTROCK COMPANY

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WestRock : Claremont saw $140 million in industrial investment in 2021

12/28/2021 EDT

"We were pretty maxed out (on wastewater capacity)," Brown said. "We were to a point where if a huge industry had come to us, we wouldn't have been able to take them. We had to set ourselves up and this agreement with the city of Hickory is going to revolutionize Claremont's wastewater capacity for 40 years."

Brown is expecting more business growth to come out of the city's efforts, he said.

"There's things in the cooker now that I can't discuss publicly, but they are going to be good," Brown said. "And there are things being worked on that, over time, will become public that are going to be good."

In a small city like Claremont, the tax dollars that come out of businesses investments and expansions make a big impact. Those investments in Claremont mean a lower tax rate for residents and better services, Brown said. The city was able to repave nearly all city-owned streets, add sidewalks and grow a successful fire department with a low insurance rating, Brown said.

"It truly is giving the amenities of a larger city on a smaller scale," Brown said. "And it is that industrial base that allows us to do that. It really does."

This year, Claremont saw especially strong business growth and expansion. The level of investment reflects a successful year for businesses across the county, Catawba County Economic Development Corporation President Scott Millar said. Companies saw an increase in business in 2021, and with success came expansions.

Disclaimer

WestRock Company published this content on 28 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2022 18:17:02 UTC.


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Financials (USD)
Sales 2022 21 402 M - -
Net income 2022 1 072 M - -
Net Debt 2022 7 278 M - -
P/E ratio 2022 10,6x
Yield 2022 2,25%
Capitalization 11 254 M 11 254 M -
EV / Sales 2022 0,87x
EV / Sales 2023 0,79x
Nbr of Employees 49 900
Free-Float 98,7%
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David B. Sewell President, Chief Executive Officer & Director
Alexander W. Pease Chief Financial Officer & Executive Vice President
Alan D. Wilson Non-Executive Chairman
Amir Kazmi Chief Information Officer
Colleen F. Arnold Independent Director
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