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Magna Composites Creates 327 Jobs in North Carolina

Canadian auto-part company Magna Composites is expanding the work forces at three of its Charlotte, North Carolina-area facilities. Magna will invest $10 million in the expansion, partly funded by the state's Job Development Investment Grant (JDIG), and create a total of 327 jobs.

"We're pleased that North Carolina recognizes the need for business-friendly programs, and it helps us remain in close proximity to our customers in this region," said Bob Brownlee, president of Magna Exteriors and Interiors.

The state's Economic Investment Committee voted today to extend the JDIG to Magna. According to the program's terms, the company can receive a grant equal to 50 percent of the state personal income withholding taxes derived from new job creation. Up to $1.1 million may be awarded to Magna.

New employees will be added at facilities in Salisbury, Lenoir, and Newton.

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