ASMO North America, a global supplier of advanced automotive technology, systems and components, will invest $50 million to expand its manufacturing operations in Pitt County,, with plans to create 200 new jobs by the end of 2016 at its Greenville, North Carolina location.
ASMO North America has had a presence in Greenville since 1995, where it currently employs more than 530 people. The company manufactures front wiper motor linkages, arm and blades and radiator fan motors in Greenville for its North American customers. ASMO North America is a wholly-owned subsidiary of ASMO, Co. LTD which is headquartered in Kosai City, Japan. The company also operates manufacturing facilities in Statesville, NC, as well as in Texas, and Michigan.
"We very much appreciate the support from the state of North Carolina, Pitt County and the City of Greenville,” said Takashi Akai, president of ASMO Greenville of NC. “We are committed to remaining a market leader and continue to manufacture products in Eastern North Carolina. Our expansion will require highly-skilled associates and we look forward to strengthening our ties with Pitt Community College to provide the training needed for the future. We wish to thank everyone involved in this project.”
ASMO’s expansion in Greenville will enable it to add more assembly lines and die cast machines to meet growth expectations. The company said it currently maintains a first place market share for these automotive parts. ASMO manufactures and ships their products directly to Toyota, Honda, Ford, Chrysler, General Motors, Hyundai, Kia, ASMO’s expansion in Greenville will enable them to add more assembly lines and die cast machines to meet growth expectations.
“ASMO has a great presence in North Carolina and we’re thrilled that they see the value in growing with us in Eastern North Carolina,” said Gov. Pat McCrory. “They are one of our strong automotive manufacturing partners and have succeeded due to product design and demand, as well as our business-friendly climate in the state.”
“We are committed to creating new jobs in North Carolina and know that we have the attributes that advanced manufacturing companies like ASMO need to succeed,” said Sharon Decker, North Carolina Secretary of Commerce. “We applaud the ASMO executives for their commitment to reinvest in Eastern North Carolina and expand their global footprint in Pitt County.”
The project was made possible in part by an award to ASMO from the state Job Development Investment Grant program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant.
Under the terms of the company’s JDIG award, ASMO is eligible to receive up to 12 annual grants equal to 43 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over 12 years, the JDIG award could yield aggregate benefits to ASMO of up to $1,255,450.