Gov. Bev Perdue announced that Tuscarora Yarns Inc, a leading yarn manufacturer, will locate a new facility in Rowan County. The company plans to create 124 jobs and invest $6.3 million during the next three years in China Grove. The project was made possible in part by a $146,000 grant from the One North Carolina Fund.
“As a home-grown company Tuscarora Yarns knows North Carolina is a great place to do business,” said Gov. Perdue. “Our workforce and training programs – especially in the textile industry – are second to none. It's great news that Tuscarora is creating and retaining jobs right here in the Tar Heel State.”
Tuscarora Yarns has operated yarn manufacturing mills in North Carolina since 1899. The company is a worldwide leader in the manufacturing of heather and mélange yarns and produces a variety of yarns for applications such as sportswear, underwear, hosiery, sweaters, home furnishings and automotive components. The company currently employs 57 in China Grove and plans to move its operation to a larger, more modern facility.
Salaries will vary by job function, but the average annual wage for the new jobs will be $27,334 not including benefits. The Rowan County average annual wage is $36,036.
“The town of China Grove, Rowan County, the county EDC, and the State of North Carolina have all been very supportive of our efforts to expand here,” said Martin B. Foil, Jr., CEO of Tuscarora Yarns. “It's relationships such as these and Duke Power that optimize our opportunities for success in these challenging business conditions. Our China Grove location has served well for the past 25 years. Increasing our investment through new equipment, machinery along with new jobs will allow exciting opportunities at this new location.”
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.
North Carolina continues to have a top-ranked business climate. Through Gov. Perdue's JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.
Through use of the One NC Fund, more than 50,000 jobs and $9 billion in investment have been created since 2001. Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Rowan County and the Town of China Grove.
NC Department of Commerce
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