GREENSBORO A High Point-based plastic injection molding company will anchor a new building planned for Gateway University Research Park.

Core Technology Molding Corp. will move to the new site with help from a $1.2 million economic development investment grant from Greensboro, the city said Thursday in a news release.

The company will bring its headquarters and 25 jobs to the new space initially and has promised to add 25 more,John Merrill, executive director of the research park, said in early June before the company had been publicly identified.

This is a major endeavor for District 1 and East Greensboro as this project is the result of the City designating funds from the 2006 and 2016 bonds earmarked specifically for the enhancement of the east side of town, Councilwoman Sharon Hightower said in a prepared statement.

The new 70,000-square-foot building on the research park's south campus will go up next to the Joint School of Nanoscience and Nanoengineering.

Construction could start as soon as August, and the building could be occupied in late 2018.

The $11.7 million, two-story building will have research labs and offices as well as manufacturing and distribution spaces. Core Technology will occupy between a third and half of the new building. The remaining spaces will be for lease.

The Gateway research park, a joint venture of N.C. A&T and UNC-Greensboro, has two campuses. TheNorth Campuscovers 75 acres along U.S. 29 near Bryan Park. TheSouth Campus, also 75 acres, sits along Gate City Boulevard near Interstate 40/85.

Contact Jennifer Fernandez at 336-373-7064.

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High Point company to expand at Gateway University Research Park - Greensboro News & Record