Continental Structural Plastics, a leading manufacturer of automotive and heavy truck composite components, will expand operations with a capital investment of $45 million to add new capabilities to its facility in Salisbury, North Carolina. The company plans to create 61 jobs in Rowan County.
The project in Salisbury will add 50,000 square feet to its current facility and incorporate a new paint/prime line, enabling it to speed up production and accommodate larger products.
“Our expansion at the Salisbury facility will enhance our ability to support programs for our heavy truck customers,” said Steve Rooney, CEO, Continental Structural Plastics. “We have a solid, talented workforce in North Carolina, and are thankful for the support from the State of North Carolina to continue our growth here.”
The North Carolina Department of Commerce led a team of partners in supporting CSP’s decision to expand in the state, which will create for the community an annual payroll impact of more than $2 million.
A performance-based grant of $100,000 from the One North Carolina Fund will help facilitate Continental Structural Plastics’ expansion in Rowan County. The OneNC 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 OneNC grants require a matching grant from local governments and any award is contingent upon that condition being met.
“Companies that operate in our state and then choose to expand here provide North Carolina’s strongest endorsements,” said North Carolina Commerce Secretary Anthony M. Copeland. “Nothing speaks like experience, and CSP’s decision speaks volumes when it comes to North Carolina’s reputation as a business location.”
Michigan-based Continental Structural Plastics, a Teijin Group company, is a Tier One supplier providing advanced, lightweight composite solutions for the automotive, heavy truck, HVAC and construction industries. CSP maintains operations on three continents and employs more than 4,300 employees worldwide.
“North Carolina’s manufacturing base continues to grow and strengthen our economy,” said Governor Cooper. “Even in the face of the pandemic, North Carolina is producing jobs and attracting companies who need our resilient, productive workforce.”
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina Community College System, Rowan County, and the Rowan EDC.