Caterpillar Inc. will open a new pre-assembly plant for skid-steer loaders in Sanford, NC, adding 40 jobs and investing $15 million in its operations there.
The Sanford City Council will provide Caterpillar with state grant funding to renovate an existing building on Boone Trail Road. The city received a $500,000 grant from the North Carolina Department of Commerce’s building reuse program. The grant will act as a loan for two years, according to Bob Joyce, the Sanford Area Growth Alliance’s executive director of economic development. Caterpillar has two years to fill the 40 new positions, and the jobs must pay at or above the Lee County prevailing wage of $39,092, explained Joyce.
“This most recent expansion I think confirms to us that we are a good community partner for Caterpillar and that they see more opportunity here with their manufacturing of skid-steer loaders,” said Joyce.
Caterpillar opened a plant in Sanford in 1999 and has expanded several times since. Caterpillar’s main plant in Sanford is located in the Central Carolina Enterprise Park, and the new operation will be located in a 145,410-square-foot building that previously housed a textile spinning mill, according to Joyce.
Relocating or Expanding Your Business In North Carolina
Considering North Carolina for your company’s relocation or expansion project? Check out Business Facilities’ North Carolina Incentives and Workforce Development Guide.
