New York Air Brake Expands Salisbury, North Carolina, Operations
With headquarters in Watertown, New York, New York Air Brake has served the rail industry since 1890. The company offers freight & locomotive air brake control systems. As part of its business unit-focused approach, NYAB has been operating Premtec, a division focused on hose manufacturing plus freight car component production and testing, in Rowan County for nine years.
“We remain focused on offering overall value and innovative solutions to our customers across North America and around the globe. The One NC grant funding will help support our business as we work to achieve that goal,” said Michael Hawthorne, New York Air Brake President & CEO.
As an incentive, a performance-based grant of $185,000 from the One North Carolina Fund will help facilitate this latest New York Air Brake expansion in Rowan County. The company must add 94 jobs to meet the requirements for the state grant. The One NC 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.
“Manufacturers like New York Air Brake recognize the strengths of the North Carolina workforce,” said Governor Roy Cooper. “Our state offers the education and skills training our people need to stay sharp, which gives employers the confidence that North Carolina’s workers will always get the job done.”
“New York Air Brake’s decision provides the latest proof that companies already doing business in North Carolina understand the advantages we offer as a business location,” said Commerce Secretary Anthony M. Copeland. N.C. Commerce and the Economic Development Partnership of N.C. were instrumental in supporting the company’s expansion decision.
In addition to North Carolina Commerce and the Economic Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, Duke Energy, Rowan County, and Rowan EDC.
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