A Strong Finish in '03

As 2003 comes to a close we are thrilled with recent successes and even more excited as we see all the pieces quickly lining up for rapid growth in 2004.

In December, we announced the expansion of Jennico2 Inc., a detergent manufacturer based in Eau Claire, Wisconsin. Jennico2, in business since 2001, produces liquid detergents under private label brands for the retail market including major grocery store chains.

After a Mid-Atlantic site search for expansion, Jennico2 selected Winston-Salem based on proximity to major markets and its major customers. The company chose the 84,119-square-foot spec building in Union Cross Business Park for its plant. Construction on the interior of the facility is under way by Samet Corporation. The company plans to be in operation in early 2004.

Jennico2 plans to invest $5 million in equipment and building upgrades. The company has received economic development assistance from the City of Winston-Salem, Forsyth County and Duke Power Corporation.

The expansion of Jennico2 is particularly gratifying in that it brings a growth-oriented manufacturing company and quality, good-paying jobs during challenging times for the local manufacturing economy. Jennico2 expects to add more than 30 full-time employees at the start of local operations in January, with anticipated local growth to nearly triple within three years.

Also in December, we received the green light to begin recruiting efforts in earnest for the new FedEx hub at the Piedmont Triad International Airport. The final regulatory hurdle and eagerly awaited final permit from the U.S. Army Corps of Engineers was handed down and the first construction contract for the cargo hub was awarded.

As construction now begins, we are optimistic the FedEx cargo hub will begin operations by mid-2009. The opening of the FedEx hub provides an ideal opportunity for those with time-sensitive, value-added products as well as general logistics and suppliers to capitalize on the hub’s overnight deliveries.

Winston-Salem Business Inc. (WSBI) is a non-profit economic development agency working to attract new businesses, investments and jobs to Winston-Salem and Forsyth County. This year, WSBI has assisted in the
expansion and relocation of nine companies that will create 436 jobs and increase the tax base by over $11 million. Since its inception in 1987, WSBI has assisted 89 companies representing more than $795 million in tax base and more than 8,600 jobs.

WINSTON-SALEM BUSINESS INC.
1080 West Fourth Street
Winston-Salem, NC 27101
336. 723.8955
800. 220. WSBI
fax 336. 761.1069