MSC Industrial Direct Invests $31 Million in Davidson, North Carolina, Headquarters, With Plans To Create 400 Jobs
The project was made possible, in part, by state Job Development Investment Grant funds and the One North Carolina Fund, said Gov. Bev Perdue. "Companies like MSC quickly recognize that North Carolina has the business climate and top notch workforce that makes this a place where they can thrive," Perdue said.
David Sandler, Chief Executive Officer of MSC said; "After conducting a national search, the Charlotte area provided the most compelling opportunity to strategically and cost-effectively grow our business. We look forward to building our presence in the Davidson community and to beginning this exciting new chapter for MSC."
MSC currently employs 64 people in North Carolina and will continue to operate its northern headquarters in Melville, New York. The new facility at Interstate 77, near the intersection with Griffith Street, in Davidson will house many corporate functions including; executive management, IT, accounting, human resources, product management, and marketing.
"MSC knew exactly where to go to find a skilled, educated workforce," said Sen. Malcolm Graham, of Charlotte. "Our past investments in education have helped develop exactly the kind of workers that businesses need today."
Compensation will vary by job function, but the minimum average compensation for the new positions is expected to be more than $79,000 plus benefits. The average annual wage in Mecklenburg County is $51,792.
As an incentive to help facilitate this location, the company has been awarded a grant of up to $1.05 million 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 to attract business projects deemed by the governor to be vital to a healthy and growing state economy. One North Carolina Fund grants require a local match, and this grant is contingent upon approval of local incentives.
The State Economic Investment Committee also awarded a Job Development Investment Grant to MSC Industrial Direct. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant.
Under the terms of JDIG, the company is eligible to receive a grant equal to 70 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the 12 years in which the company meets annual performance targets. If MSC meets the targets called for under the agreement and sustains them for 12 years, the JDIG could yield as much as $11.7 million in maximum benefits for the company.
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