Governor Pat McCrory and N.C. Commerce Secretary Sharon Decker announced y that XO.STEEL, LLC is locating its North Carolina manufacturing operations in McDowell County. The company plans to create 30 new jobs and invest $350,000 over the next three years in Old Fort.
“We’ve created an atmosphere of job creation, growth and investment for innovative companies,” said Governor McCrory. "This new steel coatings business will provide job opportunities to keep talented workers in McDowell County.”
XO.STEEL, LLC is being established to produce an advanced surface application which prevents corrosion and protects mild steel. Raw material will be processed, manufactured, palletized and shipped to end users globally. Operations will begin in the second quarter of 2014.
“In yet another positive sign in our state’s economic and job growth, I’m pleased XO.STEEL is committed to helping North Carolina grow and create quality jobs,” said Secretary Decker. “After months of hard work and collaboration, XO.STEEL has joined the long list of companies that recognize our state's economic and business climate is improving."
XO.STEEL, LLC has initial plans to construct an 8,000 square foot manufacturing facility in rural McDowell County, with expansion options to ultimately increase the facility to more than 24,000 square feet.
Salaries will vary by job function, but the average annual wage for the new jobs will be $37,067 plus benefits. The McDowell County average annual wage is $30,576.
“In determining a location for our manufacturing facility, the adjacency to I-40 and a skilled and a ready-to-work labor force made Old Fort ideal. Our products will be exported worldwide, and while locating the plant at a large port would have made better sense logistically, the leadership teams from McDowell County Economic Foundation, Advantage West and N.C Department of Commerce leadership teams worked hard to demonstrate the significant advantages of a well-trained and committed workforce right here at home,” said John McEntire, plant supervisor and a fourth-generation McDowell County native.
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $90,000. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
“Since coming to Raleigh, my focus has been creating jobs and promoting economic development,” said Representative Josh Dobson. “The new policies being promoted by Governor McCrory and Secretary Decker have led to a tremendous resurgence in manufacturing and growth across our region.”
“My office will continue to work with Governor McCrory and Secretary Decker to promote policies that enhance North Carolina’s workforce and lead to increased employment opportunities,” said Senator Ralph Hise.
Partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, McDowell Technical Community College, McDowell County and The McDowell Economic Development Association, Inc.