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Auto Components Division of German Conglomerate Investing $30 Million in North Carolina

Continental Teves, a manufacturer of brake systems and other automotive components, will invest $30.1 million to expand its operations in Fletcher, North Carolina, according to the Noth Carolina governor's office. The company plans to create 338 new jobs over the next five years at an average annual salary of $36,179 plus benefits, approximately $5,000 per year higher than the average wage for Henderson County. Continental Teves is a wholly owned subsidiary of Germany-headquartered business conglomerate Continental AG. "The employees in the Henderson [County] facility today make a strong foundation for growing the plant," says Bobby Nelon, Fletcher plant manager. "The incentive package was also a major determining factor in selecting the Henderson plant for the expansion. This is a great situation of government and business working together to secure jobs in North Carolina." The state will provide Continental Teves up to $2.16 million in financial incentives, contingent on job creation.

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