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Materials manufacturer Baltek Inc. will invest $3.5 million and bring 68 jobs to High Point over the next three years, Gov. Bev Perdue has announced. Baltek Inc., a manufacturer of core materials for the wind energy, mass transit, marine and military markets, will relocate to a new manufacturing facility in Guilford County.
The New Jersey-based core materials manufacturer Baltek will relocate its operations to High Point. The company plans to create 68 jobs and invest $3.5 million over the next three years.
Approximately 56 of the jobs will be newly-created local positions and approximately 12 employees will be transferred to High Point from out of state. The average annual wage for the new jobs by the end of 2011 will be $43,544, not including benefits. The average annual wage in Guilford County is $38,116.
The project was made possible in part by a $204,000 grant from the One North Carolina Fund.
The company’s materials are used by manufacturers to make lightweight sandwich structures that enable end products to become lighter and thus more energy efficient. Baltek is a member company of 3A Composites, headquartered in Switzerland with 3,000 employees in Europe, the Americas and Asia.