A producer of waste collection trucks is planning to add more than 170 jobs to the region by investing $21 million for a new East Coast operation in Rowan County, Gov. Roy Cooper announced Thursday.
Amrep Manufacturing Company’s new 80,000-square-foot building in Salisbury will be adjacent to the current facility at 1405 Julian Road. It will make front load and automated side load trucks for curbside collection.
Amrep is based in Ontario, California, and is a subsidiary of Wastequip, a Charlotte-based manufacturer of waste handing equipment. The business provides waste hauling, collecting, storing and transportation with manufacturing sites in 48 states and Mexico.
Amrepexpanded its manufacturing operations several years ago, according to Eric Mattson, president of Wastequip’s Truck Division. The area provides opportunities for Amrep to have a skilled workforce and help from local and state officials, Mattson added.
Salaries will vary by position, but the average annual wage is $57,490, according to a news release from the governor’s office. Some of the positions at the facility include fabricators, mounters, painters, supervisors, welders.
The expansion in will be aided by a Job Development Investment Grant with a 12-year term. It was approved by the state’s Economic Investment Committee on Thursday.
The company may receive a reimbursement of up to $1.61 million over 12 years based on a formula that includes tax revenue from the new jobs. Payments through JDIG will occur if Amrep meets job creation and investment targets.
Amrep’s project is expected to add $335.2 million to the state’s economy, according to the governor’s office.
Incentives continue in the region
The project in Rowan County comes after a couple other incentive announcements and changes to incentives plans were made this week for the Charlotte region.
J&L Machine and Fabrication is planning to create more than 30 jobs in Gaston County with a $2.1 million production expansion project. Cooper made the announcement on Wednesday.
The business in Stanley provides steel parts for heavy industrial equipment and machines.
In 2018, Charlotte-based financial services provider LendingTree had an incentive agreement with the state to add more than 400 jobs in Mecklenburg County with an average wageof more than $100,000. LendingTree would have received up to $8.3 million in future payroll tax benefits if hiring and investment commitments were met.
But LendingTree’s stock has declined along with annual revenues since 2021. The state terminated the deal at the company’s request on Tuesday, as the company works to rebound from financial woes. Lending Tree did not create jobs through the agreement. State and local incentive money was not distributed to Lending Tree as well.
Lending Tree offers online financial services like connecting borrowers to lenders, credit cards, mortgages and personal loans. It was founded in 1996.
Credit: Source link
