GKN Driveline Invests More Than $18 Million In Two Of Its North Carolina Facilities
A worldwide supplier of automotive driveline components and systems, serving global vehicle manufacturers, the company is renewing a former GKN facility in Sanford to create a service center. This opens the door for 105 new jobs, the North Carolina Department of Commerce said. Some of the current manufacturing operations and raw materials at GKN's Alamance County facility in Mebane will shift to Lee County. However, according to state officials, no positions will be moved. More space on the plant floor in Mebane will allow for new state-of-the-art equipment. GKN employees will be re-trained to handle the advanced manufacturing equipment to support new business expansion projects for the company across North Carolina.
The company currently employs more than 500 people in its Alamance County facility. GKN employs an additional 1,500 people at companies in other counties across the state, making North Carolina the state with the largest GKN presence in the country.
“GKN Driveline's continued commitment and expansion across North Carolina is how we like to build business by growing jobs right from home," said Governor Pat McCrory. "This global company is a solid partner in North Carolina's strong base of automotive parts manufacturers.”
“The investment in new jobs, new equipment and facilities is a win for our skilled workforce," said Commerce Secretary Sharon Decker. “The new customized training through North Carolina's Community College System will also keep us competitive and makes GKN even more productive."
The project was made possible in part by an award to GKN Driveline from the state Job Development Investment Grant program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. 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 the company’s JDIG award, GKN Driveline is eligible to receive up to twelve annual payments equal to 61 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over twelve years, the JDIG award could yield aggregate benefits to GKN Driveline of slightly more than $1.1 million.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Rural Infrastructure Authority, N.C. Community Colleges, Lee County, and City of Sanford.
Innovation Corridors Have Economic Assets Driving Business Growth
The “Great Resignation” Is Impacting Corporate Relocations
Workforce Q4 2021
The 2021 Top States for Doing Business Reflect Their Locational Advantages
Workforce Development Programs Are in Overdrive
Workforce Q4 2021
35th Annual Corporate Survey: Effects of Global Pandemic Reflected in Executives’ Site and Facility Plans
17th Annual Consultants Survey: Consultants Are Optimistic About the Year Ahead