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Draka Elevator Products To Invest $3.1 Million To Expand Rocky Mount, North Carolina Operations

Area Development Online News Desk (12/14/2012)
Italy-based Draka Elevator Products, a manufacturer and reseller of products for the elevator market, will invest more than $3.1 million, over the next three years, to expand its operations in Rocky Mount, North Carolina, with plans to create 67 jobs.

Draka Elevator Products, headquartered in Rocky Mount, North Carolina, manufactures, sells and services products to the elevator market. Draka Elevator is part of a group of companies operating under the Italian-based Prysmian Group. As a part of the expansion, the Rocky Mount facility will begin producing specialized cables for cellular communication towers. Draka Elevator currently employs more than 130 people in North Carolina.

Gov. Bev Perdue’s Office said the project was made possible in part by a $100,000 grant from the One North Carolina Fund. “Our customized job training programs and skilled workforce have created a strong business climate that allows manufacturers to thrive in a global economy,” she said.

“Draka is extremely appreciative in this investment in the growth of our business and we are proud to receive this grant enabling us to create additional jobs here in Rocky Mount,” said Sterrett Lloyd, president of Draka Elevator Products.

The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.

“This is great news for Nash County,” said Sen. Buck Newton, who represents Nash and Wilson counties. This is a perfect example of our business-friendly climate and workforce development investments paying off.”

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