Wednesday - June 28, 2017
Automotive Supplier to Expand
Written by Bruce Ferrell   
Tuesday, 18 April 2017 13:48

MORGANTON -- International automotive supplier Continental will launch a major expansion of its manufacturing facility in Burke County, creating 160 new jobs over the next five years. The company will invest more than $40 million at its Morganton operations.

“It’s encouraging when a major manufacturer decides to keep expanding right here in North Carolina,” Governor Cooper said. “I’m confident that Continental will find the skilled workers they need to fill these new jobs and put more money in the pockets of people in Burke and neighboring counties.”

Continental, with North American headquarters in Auburn Hills, Michigan, is one of the top five automotive suppliers worldwide. The company’s Morganton facility produces the most progressive advanced brake engineering for all classes of vehicles, from compact cars to light trucks. The company currently employs more than 400 people in Morganton.

“North Carolina has so much to offer a global automotive manufacturing company like Continental,” said North Carolina Commerce Secretary Anthony M. Copeland. “And that’s why we continue to see these companies grow with us.” N.C. Commerce and the Economic Development Partnership of N.C. led the state’s support for the company’s expansion.

Continental will hire all levels of advanced manufacturing positions from machine operators to skilled maintenance workers to support the expansion of the company. Salaries will vary by position, with a total annual payroll impact of more than $5 million.

“The Morganton Plant has a proven record for producing the current brake system and is a natural fit for expansion to meet the production needs of our newest product,” said Samir Salman, CEO of Continental, North America. “Thanks to the generous support of the state and local officials, we are pleased to make an investment that plans to expand production of our latest innovative safety technology.”

Continental’s expansion in Burke County will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Under the terms of the JDIG, the company is eligible to receive up to $1,604,700 in total reimbursements. Payments will occur in annual installments over 12 years pending verification by N.C. Commerce and N.C. Revenue that the company has met incremental job creation and investment targets. JDIGs reimburse new and expanding companies a portion of the newly created tax-base while still increasing the overall revenue benefit to the state of North Carolina.

By law, JDIG projects must result in a net revenue inflow to the state treasury over the life of the award. For projects in Burke and other Tier 2 counties, 10 percent of the eligible grant is directed to the state’s Industrial Development Fund – Utility Account to help finance economic infrastructure in rural counties. Continental’s expansion could provide as much as $178,300 in new funds for the Utility Account. More information on county tier designations is available here.

“Continental Automotive is one of the largest employers in Burke County, and a great corporate citizen,” said N.C. Senator Warren Daniel. “I commend them on their decision to expand and bring additional jobs to this area, and look forward to continuing our economic partnership.”

"Continental Automotive is the kind of advanced manufacturing company we're proud to have in Morganton,” said N.C. Representative Hugh Blackwell. “And there's a strong chance that if you own a car, your highly advanced anti-lock brakes were made right here in North Carolina!"

Partnering with N.C. Commerce and the EDPNC on this project were the North Carolina General Assembly, the North Carolina Community College System, Burke Development, Inc., Burke County, City of Morganton, Western Piedmont Council of Governments, Western Piedmont Community College, and ElectriCities.

 

 
Banner
Banner
Banner
Banner
Banner
Banner
Banner

 

NCNN is a division of Curtis Network Group, Inc.
3012 Highwoods Blvd. - Suite 201 - Raleigh, NC 27604
Office/Sales: 919-790-9392 | Newsroom: 919-878-1724
Copyright © 2017 - Curtis Media Group, Inc.