CT Commercial Paper Company, a manufacturer and distributor of paper towel and tissue products, will expand its business operation in Oakboro.

The company expects to create at least 18 new jobs in Stanly County within the next 18 months and invest more than $1 million.

On Monday, the town of Oakboro and Stanly County both approved tax incentives to encourage the new investment and job creation.

“Oakboro has a long and proud industrial heritage, and we are pleased the business environment in Oakboro is such that CT Commercial Paper Company is growing and adding new jobs,” Mayor Joyce Little said in a press release.

CT Commercial Paper Company Executive Vice President Jason deBuhr added: “The legacy of Carolina Paper Converters has been a very positive one in Stanly County and we feel we are positioned to only add to it as we move forward. The additional machines will allow us to continue to do what we do well, but only do more of it. It’s exciting to think about adding jobs in our community at this stage, only six months removed from a change in ownership.”

The Stanly County Economic Development Commission and Stanly County Board of Commissioners both extend gratitude to the town of Oakboro, the North Carolina Community College System for its financial assistance and the Economic Development Partnership of North Carolina for its existing industry support.

“We are extremely excited to see a local business grow and add jobs. We are committed to creating a business environment in Stanly County that allows businesses to thrive and find success,” Commission Chairman Matthew Swain said.