GKN Driveline Invests $24 million To Expand Its Person County, North Carolina Manufacturing Plant
The project was made possible in part by state grants from the Job Development Investment Grant and the One North Carolina Fund Award, said Gov. Bev Perdue. "Creating jobs is my number one priority. One of the best ways to do that is to work with companies like GKN, who already call North Carolina home, and help them to expand. Our history of investment in education and job training has built a skilled workforce and world-class business climate where advanced manufacturers, like GKN, and other industries can grow."
"This new investment in our North Carolina operations will allow us to better supply our world-leading driveline systems and will allow us to further strengthen our customer base. This expansion is the next stage of our growth in North Carolina," said Max Owen, President GKN Driveline Americas.
GKN Driveline employs more than 950 people in Person, Alamance and Lee Counties. The GKN Group also employs an additional 557 employees in Catawba County. The current expansion in Roxboro, North Carolina will increase the manufacturing floor space for additional business volume. The project also includes material flow improvements and the addition of new manufacturing equipment.
As an incentive to help facilitate this expansion, the company has been awarded a grant of up to $175,000 from the state's One North Carolina Fund. This fund assists the state in industry recruitment and expansion by providing financial assistance through local governments.
The state Economic Investment Committee also voted to award a Job Development Investment Grant to GKN Driveline. Under the terms of JDIG, the company is eligible to receive a grant equal to 60 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the 10 years in which the company meets annual performance targets. If GKN Driveline meets the targets called for under the agreement and sustains them for 10 years, the JDIG could yield as much as $1.12 million in maximum benefits for the company.
2019 Leading Metro Locations: Pacific and South-Atlantic Metros Dominate the List
Finding Talent in a Time of Economic Change
Hitting the Reset Button: How to Pivot the Perception of Economic Development
Innovation in America Reaches New Heights
Mid-size Markets Competing for Business and Winning
A Site Selector’s Checklist for Locating in the U.S.
Location USA 2019