Premtec, a manufacturer of brake hoses for the railroad industry, will expand its operations in Rowan County, NC. The company, a division of New York Airbrake, will invest over $1 million dollars in new equipment and improvements to its Salisbury facility and create 28 new full-time jobs. Premtec plans to increase this number to 40 new jobs over the next three to five years.
After the planned expansion, operations at the facility will also include peripheral product assembly and test functions.
The project was announced by RowanWORKS Economic Development, Governor Roy Cooper and North Carolina Commerce Secretary Anthony Copeland earlier this month.
“We are pleased that Premtec has chosen Rowan County as the location for their future growth,” said RowanWORKS President & CEO Rod Crider. “Having existing business announce an expansion is particularly exciting and a testament to the efforts of many to create an environment conducive to continued economic development.”
The company’s Rowan County facility offers many advantages, according to New York Air Brake President & CEO Mike Hawthorne. “Our Premtec Division already has manufacturing, as well as low-complexity assembly and test, making it a natural fit for this portion of our business,” he said, adding that Rowan County’s central location “helps improve our proximity to our customers.”
The Rowan County Board of Commissioners showed its support for the project by applying for a Rural Building Reuse Grant, which provides funding for renovations and expansions of facilities in North Carolina counties. On August 17, the NC Rural Infrastructure Authority awarded $185,000 to help fund the project. The company was also awarded a performance-based grant of $50,000 from the One North Carolina Fund will help facilitate its expansion.
Additional funding for the project was provided by Duke Energy through its Carolinas Investment Fund and by Rowan County, which awarded Premtec an Economic Development Investment Grant.
“Our County is focused on growing our economy,” said County Commission Chairman Greg Edds. “We are grateful for Premtec’s investment in our community, and glad we were able to support this job creating expansion.”
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