East Coast Steel Fabrication Inc., a company that provides heavy steel fabrication for barges and marine structures, will invest $482,202 to expand production at its facility in Hertford, North Carolina. The project is expected to create 28 in Perquimans County.
“East Coast Steel Fabrication, Inc. is excited to bring our operations to Hertford, North Carolina,” said Cynthia Overman, Vice President of East Coast Fabrication. “As North Carolina residents, we realize the need for businesses in Northeastern North Carolina and the jobs that they bring. We are extremely thankful to the State of North Carolina and the County of Perquimans for their financial support in expanding our facilities. We hope this will bring many opportunities for surrounding counties and their residents and look forward to the years ahead.”
The North Carolina Department of Commerce led a team of partners in supporting East Coast Steel Fabrications’ decision to expand its North Carolina operations.
A performance-based grant of $60,000 from the One North Carolina Fund will help facilitate East Coast Steel Fabrication’s expansion in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and 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.
“Northeastern North Carolina is the ideal home for companies like East Coast Steel Fabrication, whose expansion means that the region will continue building on its marine trades and services sector," said N.C. Commerce Secretary Anthony M. Copeland. "Competitive costs, modern infrastructure, convenient market access and excellent workforce assets make every corner of our state appealing for growing businesses."
According to company officials, founded in 2006 and based in Chesapeake, Virginia, East Coast Steel Fabrication designs and fabricates buildings, boats, barges and marine structures. Its six-employee operation in Hertford opened in 2019. The company, whose revenues average $6 million annually, is a Certified Small, Women and Minority-Owned business. Its customer base spans the eastern U.S. and includes construction firms, dredging companies, state transportation departments and the U.S. military.
“This expansion shows North Carolina is a place where businesses want to build their future,” said Governor Roy Cooper. “Companies like East Coast Steel Fabrication continue to choose our state for expansion because we have the workforce and stability, even in a pandemic, to help keep their business growing.”