Continental Structural Plastics Investing $45M In Rowan County, NC

The lightweight composites maker for the transportation industry will create 61 jobs and add a new paint line and equipment at its Rowan County, NC facility. 


https://businessfacilities.com/2020/08/continental-structural-plastics-investing-rowan-county-north-carolina/
The lightweight composites maker for the transportation industry will create 61 jobs and add a new paint line and equipment at its Rowan County, NC facility. 
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Continental Structural Plastics Investing $45M In North Carolina

The lightweight composites maker for the transportation industry will create 61 jobs and add a new paint line and equipment at its Rowan County, NC facility. 

Continental Structural Plastics Investing $45M In Rowan County, NC

Continental Structural Plastics (CSP) will expand its operations in Rowan County, NC. CSP, a Teijin Group Company, formulates advanced composites and designs and manufactures  components for the transportation industry.

Through this expansion, CSP expects to create up to 61 jobs over the next two years. The company plans to invest approximately $45 million in new equipment and improvements to its Rowan County facility. Improvements will include the addition of a modernized paint and prime line, as well as a 50,000-square-foot building expansion.

Rowan County“As we continue to see growth opportunities for our advanced composite components, we are expanding and updating our facilities to meet this demand,” said Steve Rooney, CSP CEO. “We know we have access to a skilled, committed manufacturing workforce in North Carolina, and we are truly grateful to Rowan County and the State of North Carolina for the on-going support as we expand our operations in the State.”

A team of state and local agencies played key roles in ensuring that this expansion occurred in Rowan County. The Rowan County Board of Commissioners awarded the company an Economic Development Investment Grant.

“We are very grateful that Continental Structural Plastics has chosen Rowan County for this expansion and for the bright future it holds for the company and its employees,” said Rowan County Commission Chairman Greg Edds. “They are an invaluable member of our community and this announcement is indicative of their commitment to Rowan County and its citizens.”

The Economic Development Investment Grant approved by the county is a performance-based incentive requiring the company to meet predetermined employment goals before incentives are paid. The county also applied for a North Carolina Rural Infrastructure Authority Rural Building Reuse Grant on behalf of the company which will provide $460,000 for renovations and expansions of the CSP facility.

North Carolina also awarded a performance-based grant of $100,000 to CSP from the One North Carolina Fund. In addition, the North Carolina Community College System will partner with CSP to provide customized training for the new employees

“We are most thrilled when one of our existing companies chooses to expand in Rowan County” said Rowan Economic Development Commission President Rod Crider. “This is a great example of the overall strength of our growing manufacturing cluster and a testament to the efforts of the team at Continental Structural Plastics to continue to lead its industry.”

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