North Carolina Manufacturing Continues to Climb
The State of North Carolina has had a history of excellence when it comes to the manufacturing industry. This rich history continues to grow along with the growth of the industry itself in the state. According to the Bureau of Labor Statistics, manufacturing in North Carolina posted a growth percentage of 2.8% in July 2015, up from June 2015 which posted 2.5% growth. There are signs of this growth continuing on in the future as many companies are expanding their operations in the Tar Heel state.
A popular manufacturer of residential building products is planning to expand their facility in Kinston, North Carolina which will add 72 jobs and a capital investment of $4.5 million over three years. Martin County is welcoming a textile manufacturer’s 38 job expansion; these jobs are projected to have an average salary of $26,300. While a global plastics manufacturer is looking to add 75,000 square feet to their existing production plant in Asheville, NC. This expansion is projected to add close to 200 jobs to their workforce that is currently at 212 persons to a company that is one of the largest employee-owned companies in the world.
A major reason for these expansions is the One North Carolina Fund. This fund is in place to help recruit and expand jobs that are in knowledge-driven industries. This allows for companies who are deemed vital to the economy of North Carolina to expand easier. The fund was created and designed to increase the states competitiveness in attracting new business and keeping current operations in state.
It will be interesting to see if North Carolina can maintain their growth throughout the years to come. Currently all signs are pointing towards a linear growth, if not an exponential one, in the years to come for manufacturing in the Tar Heel state.