Brazilian-based Borghetti Turbos North America, Inc., a manufacturer of turbochargers, gas turbines, compressors and other related automotive parts, will invest $3.7 million to open a new facility in Lincoln County, North Carolina, with plans to create 127 jobs.
Borghetti Turbos is a privately owned company with its international headquarters in Sao Marcos, Brazil. The company plans to open its first North American manufacturing facility in Lincoln County to manufacture turbochargers for its customer base in the U.S., South Africa and Eastern Europe. The company’s products are marketed under the Master Power brand and used in commercial trucks, high-performance automobiles, as well as marine and industrial applications.
“Our highly-skilled workforce is a major reason why North Carolina is home to such a strong automotive manufacturing cluster,” said Sharon Decker, N.C. Secretary of Commerce. “Our strong transportation options are also a key factor in Borghetti Turbo’s decision to locate in North Carolina and we must continue to invest in job training programs, education and critical infrastructure.”
“The State of North Carolina understood that other states and regions were offering comparable incentive packages. Therefore, in the end, the intangibles related to the Charlotte region as a whole and Lincoln County gave North Carolina the advantage,” said Eduardo Borghetti, President of Borghetti Turbos North America. “Quality of life attractions including professional sports, a similar year-round climate as Brazil, cultural arts and proximity to the beach and the mountains were among some of the key reasons that led to our final selection.”
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $99,000. The grant is contingent upon proof of job creation and receipt of a local funding match. 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.
Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Lincoln County, Lincoln Economic Development Association and the Charlotte Regional Partnership.