A Taiwan-based maker of high performance sports apparel plans to build its first manufacturing plant outside Asia in Forest City, NC. Everest Textiles USA, a unit of Everest Textile Co., will create 610 new jobs and invest $18.5 million in the project over five years.
Everest Textiles USA will employ operators, supervisors and an administrative team. Once fully operational, the Forest City facility will add nearly $15.8 million annual payroll impact to the local economy.
“As a native North Carolinian, it is exciting to see Everest Textile USA investing in the state and people of North Carolina, while also creating innovative products,” said Michael Chen, U.S. legal counsel to Everest Textile. “This project will be a tremendous opportunity for all parties involved.”
“The selection of Rutherford County for Everest’s first production site outside of Asia is clear evidence that western North Carolina is competitive with any region in the world when it comes to manufacturing,” said state Rep. David Rogers.
Everest’s growth in Rutherford County will be supported, in part, by a Job Development Investment Grant (JDIG) approved by North Carolina’s Economic Investment Committee. Under the terms of the company’s JDIG, it is eligible to receive just over $3 million in total reimbursements. Payments will occur in annual installments over 12 years, pending verification by North Carolina Commerce and North Carolina Revenue that the company has met incremental job creation and investment targets. JDIGs reimburse new and expanding companies a portion of the newly created tax-base with the goal of increasing the overall tax benefit to the state. By law, JDIG projects must result in a net revenue inflow to the state treasury over the life of the award. The project is contingent upon local participation from the county or municipality.
Everest currently has factories in Taiwan, China and Thailand. Founded in 1988, the publicly-held parent company is a vertically integrated developer and supplier of innovative products to leading brands in sports, casual and other apparel. Its buyers include Nike, Columbia and Patagonia.
“North Carolina’s outstanding business climate offers great advantages to global manufacturers such as Everest Textiles,” said Gov. Pat McCrory. “We are thrilled that this innovation-based textile company has selected our state and its tradition of high-quality manufacturing to build its presence in the Americas.”
To support Everest Textile’s project, North Carolina Commerce and the Economic Development Partnership of North Carolina worked with the North Carolina General Assembly, the North Carolina Community College System, NCWorks, the North Carolina Department of Environmental Quality, Rutherford County, the town of Forest City, the Rutherford County Economic Development Commission and North Carolina State University, and the North Carolina Taiwanese Chamber of Commerce
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