"Richmond County provides a highly skilled workforce and access to excellent community services to assist with training and recruiting," said Frank Goehring, Narricot's chief operating officer. "The growing demand for airbag products presents tremendous opportunities for us and we look forward to becoming an integrated part of this community."
The company has been awarded a $200,000 grant from the One North Carolina Fund grant and a Job Development Investment Grant (JDIG). These two funds combined have helped create more than 30,000 jobs and an investment of more than $5 billion since 2001.
The One North Carolina Fund assists the state in recruiting and expanding quality jobs by providing financial assistance to businesses or industries deemed by the Governor to be vital to a healthy and growing state economy. These grants require a matching grant from a local governmental entity.
Under the terms of the JDIG agreement, approved by the state Economic Investment Committee, a 9-year grant will be established for the company. Over the life of the grant, the N.C. Department of Commerce estimates the project will:
- Generate a combined cumulative gross state product value of $276.56 million;
- Produce a combined positive, cumulative net state revenue impact of $8.37 million.
North Carolina Department of Commerce
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