Local Government
Pratt And Whitney To Create 800 Jobs In Asheville PDF Print E-mail
Local Government
By Administrator   
Wednesday, 28 October 2020 09:16

Pratt & Whitney, a division of Raytheon Technologies Corp. (NYSE: RTX) plans to invest approximately $650 million and create 800 jobs through 2027 in Asheville. The project will bring a new high-tech turbine airfoil production facility to Buncombe County.

“We are positioning North Carolina to come out of this pandemic with these and other good paying jobs which signals a bright future in aviation even with the current challenges the industry faces. Manufacturers know they can count on our strong workforce, our innovation and our leadership in uncertain times,” said Governor Roy Cooper.

Pratt & Whitney, a unit of Raytheon Technologies Corporation (NYSE:RTX) is a world leader in the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units. The new project in Asheville will lead to the development of a new 1,000,000 square foot advanced manufacturing facility.

“This investment will enable Pratt & Whitney to continue to modernize and transform its operations with cutting-edge technologies," said Chris Calio, president, Pratt & Whitney. “Turbine airfoils are a critical component across our engine portfolio and demand will increase significantly as the market recovers over the next several years. We need to invest today to ensure that we have the infrastructure, production capabilities and workforce in place to meet future market demand and provide the best products to our customers worldwide. We are grateful for the support provided by the State of North Carolina and the local community.”  

“North Carolina’s leadership in aerospace may have started with the Wright Brothers, but make no mistake, this industry is a vibrant part of our state’s modern economy, as today’s announcement proves,” said North Carolina Commerce Secretary Anthony M. Copeland. “We welcome Pratt & Whitney’s new investment in North Carolina.”

Although wages will vary depending on position, the average annual salary for all the new positions is planned to reach $68,000. The current average wage in Buncombe County is $43,134. Once all the new positions announced today are filled, a $54 million payroll impact will be felt in the area economy each and every year, according to estimates by the Department of Commerce.

Pratt & Whitney’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, N.C. Commerce economists estimate the project could grow the state’s economy by $7.4 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $15,543,000, paid over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

Pratt & Whitney’s JDIG agreement also could move as much as $5,181,000 into the state’s Industrial Development Fund – Utility Account for use by rural communities elsewhere in the state. The Utility Account helps finance necessary infrastructure upgrades in more economically challenged areas of the state to attract future business.

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of N.C. on this project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Department of Transportation, the Appalachian Regional Commission, Duke Energy Carolinas, the Golden LEAF Foundation, Buncombe County, Asheville-Buncombe Technical Community College, the Asheville Area Chamber of Commerce Community Betterment Foundation, and the Economic Development Coalition of Asheville and Buncombe County.

Last Updated on Wednesday, 28 October 2020 09:18
 
Textile Company To Bring 33 Jobs To Surry County PDF Print E-mail
Local Government
By Administrator   
Wednesday, 28 October 2020 09:08
Texwipe, a global manufacturer of contamination control supplies, will create 33 new jobs in Surry Count.The company will invest more than $4.5 million to locate a manufacturing facility in Mount Airy.
 
“Our state’s economy continues to grow, despite public health and economic challenges,” said Governor Roy Cooper. “Companies like Texwipe choose to grow in North Carolina’s because of our talented workforce and our state’s strong management of the pandemic."
 
Texwipe has been headquartered in Kernersville, N.C. since 1991. The manufacturer is an innovative leader in contamination control supplies and critical cleaning products for life sciences, semiconductor, and other industries requiring critical manufacturing environments.
 
“We are thankful for the support from the City of Mount Airy, Surry County, and the State of North Carolina, and look forward to our expansion and the new career opportunities it will bring to the community,” said Luke Grant, Business Unit Manager of Texwipe. 
 
“Texwipe is an important part of our life sciences supply chain, and the company’s expansion brings exciting benefits on several levels,” said North Carolina Commerce Secretary Anthony M. Copeland. “North Carolina’s many advantages as a business destination support the success of innovation-minded manufacturers as they embrace expanded market opportunities.” 
 
The North Carolina Department of Commerce led a team of partners in supporting Texwipe’s decision to expand their manufacturing footprint in North Carolina. The new positions include production, maintenance and managerial staff. The average annual salary for all new positions will vary creating a payroll impact of more than $1.2 million per year. Surry County’s overall average annual wage is $37,222.
 
A performance-based grant of $75,000 from the One North Carolina Fund will help facilitate Texwipe’s expansion. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.
 
In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina Community College System, Surry Community College, Surry County, Surry County Economic Development Partnership, City of Mount Airy, and Duke Energy.
Last Updated on Wednesday, 28 October 2020 09:09
 
Federal Broadband Grant To Benefit Davie, Yadkin And Irdell Counties PDF Print E-mail
Local Government
By Administrator   
Wednesday, 28 October 2020 09:04
The United States Department of Agriculture (USDA) is investing $2.3 million to provide broadband service in unserved and underserved rural areas in North Carolina. This investment is part of the $550 million Congress allocated to the second round of the ReConnect Program. 
 
Yadkin Valley Telephone Membership Corporation will use a $2.3 million ReConnect grant to deploy a fiber-to-the-premises network. This network will connect 5,686 people, 67 farms and 18 businesses to high-speed broadband internet in Davie, Yadkin and Iredell counties in North Carolina.
 
“Access to high-speed internet is a cornerstone of prosperity, and unfortunately many of America’s rural communities lack access to this critical infrastructure,” USDA Deputy Under Secretary for Rural Development Bette Brand said. “Under the leadership of President Trump and Agriculture Secretary Perdue, USDA is committed to leveraging all available resources and being a strong partner to rural communities in deploying high-speed broadband e-Connectivity to the people, businesses and community facilities that don’t have access yet. Connecting America’s rural communities to this essential infrastructure is one of USDA’s top priorities, because we know that when rural America thrives, all of America thrives.”
 
 
 
 
Fencing Manufacturer to Create 142 New Jobs in Rowan County PDF Print E-mail
Local Government
By Administrator   
Wednesday, 28 October 2020 08:56
Eastern Wholesale Fence, LLC, a New York-based fence manufacturing company, will create 142 jobs in Rowan County, North Carolina Governor Roy Cooper announced today. The company will invest $17.5 million to create a manufacturing center of excellence in Salisbury to better fulfill demand for their product
.
“The North Carolina economy continues to grow manufacturing jobs, despite public health and economic challenges,” said Governor Cooper. “This means companies like Eastern Wholesale Fence choose to expand in our state because of the talented workforce and effective management of the pandemic.”

 

Founded in 1971, Eastern Wholesale Fence, LLC is an extruder, manufacturer, and distributor of commercial and residential fence products. The company’s new manufacturing center in North Carolina will and distribute their vinyl, ornamental, chain link, wood, and decorative fencing fabricate materials for the eastern portion of the United States.

 

“Eastern Wholesale Fence, LLC is extremely excited to be expanding into our new Salisbury to better fulfull the needs of our customers,” said Peter Williams Jr, Chief Executive Officer – Eastern Wholesale Fence, LLC. “We greatly appreciate the support from the State of North Carolina, Rowan County, and the City of Salisbury on this expansion project, and we look forward to being an involved corporate citizen in our new community.” 

 

“Advanced manufacturers of all kinds find their future in our state because of our talent, location, affordable cost structure and access to high-growth consumer markets,” said Commerce Secretary Anthony M. Copeland. “Eastern Wholesale Fence is a leading name in the building-products industry, and we look forward to supporting their long-range business strategy.” 

 

The North Carolina Department of Commerce led the state’s efforts to support Eastern Wholesale Fence’s decision to locate to North Carolina. The company’s 142 new jobs will include engineers, technicians, operators, managers, and administrative support staff. The average annual salary for all new positions is $46,109, creating a potential payroll impact of more than $6.5 million per year. Rowan County’s overall average annual wage is $43,883.

 

Eastern Wholesale Fence’s expansion will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of the grant, the project is estimated to grow the state’s economy by more than $288 million.

 

Using a formula that takes into account the new tax revenues generated by the 142 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,078,200 spread over 12 years. Payments for all JDIGs only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

 

Because Eastern Wholesale Fence is locating to Rowan County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving as much as $119,800 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 2 county such as Rowan, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state. More information on the state’s economic tier designations is available here.

 

In addition to the N.C. Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, North Carolina Community College System, Rowan County, Rowan EDC, Charlotte Regional Business Alliance, Duke Energy, CSX, Norfolk Southern, and North Carolina Railroad.
 
Last Updated on Wednesday, 28 October 2020 08:57
 
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