BorgWarner Turbo Systems is expanding its manufacturing operations in Arden, North Carolina
. The company plans to create 63 jobs and invest more than $32 million over the next three years in Buncombe County.
A global technology leader and manufacturer of turbocharging technologies designed to improve fuel economy, emissions and performance, BorgWarner turbochargers boost a wide range of vehicles, from commercial trucks and off-highway equipment to high-performance race cars.
Tighter emissions regulations and the push for more fuel-efficient vehicles are driving the need for more turbocharged engines. As a result, the U.S. turbocharger market is growing rapidly. BorgWarner expects production in North America to more than double over the next five years, according to North Carolina Department of Commerce officials. Globally, volumes for light vehicle turbocharger production are forecast to increase from 29 million in 2014 to 43 million in 2019.
“Since 1977, BorgWarner Turbo Systems has grown significantly in the Asheville area, employing over 650 people today. As demand for our world-leading turbocharging technologies escalates, BorgWarner will continue to leverage the strong and talented local labor pool
,” said Frédéric Lissalde, President/General Manager, BorgWarner Turbo Systems. “We are excited about our business prospects and look forward to working with North Carolina and Buncombe County to enhance the local economy.”
"Companies across North Carolina are choosing to expand because our economic environment allows job growth to flourish and innovations to thrive," said Governor Pat McCrory
. "BorgWarner Turbo Systems’ expansion will not only result in more growth for our thriving advanced manufacturing industry, but it will deliver millions of dollars in capital investment to western North Carolina.”
The project was made possible in part by a performance-based grant from the One North Carolina Fund
of up to $126,000. 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.
Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Asheville-Buncombe Technical Community College, Buncombe County and the Economic Development Coalition for Asheville-Buncombe County.