Advanced Superabrasives Inc., a manufacturer of premium high performance grinding wheels and equipment, will invest $26 million to expand its existing facility, 19 miles north of Asheville, in Mars Hill, North Carolina. The project is expected to create 47 full-time jobs over four years in Madison County.
“North Carolina values its manufacturing companies, both large and small,” said Jonathan Szucs, General Manager for Advanced Superabrasives. “Our company is proud to do business here and we look forward to growing in the state for many years to come.”
Advanced Superabrasives industrial grinding machines are used by the automotive, aerospace, medical and woodworking industries. One of the company’s grinding wheels is currently being used on Mars as part of a scientific package aboard Curiosity rover.
As an incentive the company was awarded a performance-based grant of $100,000 from the One North Carolina Fund to help facilitate its expansion in Madison County.
The One N.C. Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.
“North Carolina’s top-flight manufacturing workforce makes our state the right choice for companies looking to grow into the future,” Governor Roy Cooper said. “Advanced Superabrasives’ expansion is just the latest example that top manufacturers have confidence in our state and our workers.”
“Companies with experience in North Carolina understand the advantages of doing business here,” said North Carolina Commerce Secretary Anthony M. Copeland. “It’s wonderful to see another manufacturer choose to expand their operations in our state.”