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Expansion of Baldor Electric to Create 166 Jobs in North Carolina

01/03/2012
Baldor Electric Company has announced it will create 166 jobs as it expands its Cleveland County, North Carolina, operation in Shelby. The average annual wages for the new positions are expected to exceed the county's average of $32,344, while their annual payroll should be over $7.3 million.

Based in Ft. Smith, Arkansas, Baldor is the North American leader in industrial electric motors. Officials said the project is needed to accommodate a growing demand for the company's wind-powered technology.

Michael Chrisawn, president of the Cleveland County Chamber of Commerce said the expansion represents a $17 million investment-and has the potential for additional growth.

A $400,000 grant from the One North Carolina Fund is helping Baldor finance the project. Cleveland County Manager Eddie Bailes said Baldor would receive ad valorem taxes totaling about $62,000 a year for 10 years under a proposed industrial incentive grant .

Currently the firm employs about 6,800 people in North America.

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