Denver Global Products Invests $30.2 Million To Establish Manufacturing Hub In Denver, North Carolina
10/17/2012
RATO manufactures and distributes thermo-power products and general-purpose engines for all-terrain vehicles, motorcycles, water pumps and generators. The new Denver Global campus in Lincoln County will accommodate the company's administrative sales, manufacturing, distribution, and research and development operations.
Denver Global, located at 405 North Pilot Knob Road in Denver, North Carolina, northwest of Charlotte, concentrates on innovating solutions for consumer products. The manufacturing facility will produce DGP developed products as well as RATO products. Incorporated in North Carolina in 2010, Denver Global was acquired by China-based Chongqing RATO Power in January. The company currently employs 27 people at its Lincoln County location.
"Denver Global greatly appreciates all the support the company has received from Gov. Perdue, the State of North Carolina and Lincoln County. Many of us live in Lincoln County, we started our company in Lincoln County and we are all pleased with the opportunity to continue to grow our business from our base here," stated Denver Global Products CEO, Roger Leon.
Gov. Bev Perdue said the project was made possible, in part, by a state Job Development Investment Grant. The state Economic Investment Committee awarded a Job Development Investment Grant to Denver Global Products. Under terms of the JDIG, the company is eligible to receive a grant equal to 60 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the ten years in which the company meets annual performance targets. If Denver Global meets the targets called for under the agreement, the JDIG could yield $2.7 million in maximum benefits for the company.
"North Carolina continues to be a top choice for companies looking to establish advanced manufacturing as well as research and development facilities," Gov. Perdue said. "This proves how important our investment in education and infrastructure is, and that it's resulting in good jobs for North Carolinians."
The Governor's Office said other partners that assisted with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Lincoln County, Lincoln Economic Development Association and the N.C. Rural Economic Development Center.
Project Announcements
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024