City of Monroe Presents Incentive Payment to Goulston Technologies
The City of Monroe presented an economic development incentive check to Goulston Technologies on July 7, 2025, recognizing the company’s continued investment in its Monroe facility and fulfillment of two ongoing development agreements with the City.
Mayor Robert Burns, Council Member Franco McGee, City Manager Mark Watson, Assistant City Manager Lisa Hollowell, Assistant City Manager Jeffrey Wells, and Strategic Projects Manager Teresa Campo met with Goulston President and Chief Operating Officer Fred Edwards and Chief Financial Officer Srinivasan Ranganathan to present the check and acknowledge the company's continued partnership with Monroe.
“Goulston’s sustained investment in our City is a strong reflection of the value companies find in operating here,” said City Manager Watson. “We’re proud to support Goulston and the high-quality jobs they create through our incentive program.”
The $168,794 incentive payment included:
$28,794 for the final installment of Project 1 (Quantum 17-035 Phase 1). Under this agreement, Goulston committed to investing no less than $2 million annually over five years, beginning in 2018.
$140,000 for Project 2 (Quantum 17-035 Phase 2), marking the third of five payments under this agreement. Phase 2 is a $700,000 grant approved by Monroe City Council in support of Goulston’s estimated $29.5 million investment over four years. Goulston committed to a minimum annual investment of $2 million.
Founded in 1937 and headquartered in Monroe, Goulston Technologies is a market leader in the chemicals sector, specializing in surface modification technologies and formulated fiber lubricants. Goulston supports customers worldwide in industries ranging from textiles to plastics.
“Goulston is a longtime partner and employer in Monroe, and their continued growth is a testament to their commitment to excellence and innovation,” said Mayor Burns. “We’re excited to see what comes next.”
“Goulston’s leadership in fiber lubricants, polymer additives, and specialty chemistries reflects their global impact and their confidence in Monroe’s workforce,” said Council Member McGee. “We’re proud to have such an innovative and respected company based here, and we're grateful for the strong partnership we’ve built together.”
"Thank you, Goulston Technologies, for your long-term commitment to Monroe’s economic development. You've been a valued and trusted partner for decades," said Council Member Julie Thompson.
“Goulston Technologies was founded in Monroe 80 years ago in 1937, and it is now a global industry leader in developing synthetic fibers. They are recognized worldwide as the leading producer of fiber lubricants. Thank you, CEO Fred Edwards, for providing good paying jobs, great career opportunities, a safe work place environment, and for being a community advocate,” said Mayor Pro Tem Surluta Anthony.
