Auto supplier to invest $15M in new Taylorsville plant

Posted at 1:49 PM on May 23, 2017

Share:


Special to SVLfreenews.com

RALEIGH – Borealis Compounds, Inc., a supplier of plastic materials to the automotive industry, will locate a new production facility in Alexander County, Gov. Roy Cooper announced Tuesday.

The company plans to initially invest $15 million in the new plant and create 37 jobs in Taylorsville.

“North Carolina is known for its a vibrant network of automotive industry suppliers, and Borealis is a welcome addition,” Cooper said. “These are exactly the kind of good-paying, advanced manufacturing jobs that communities like Taylorsville need, and our skilled workers are ready to get to work.”

Borealis AG, with global headquarters in Vienna, Austria, serves a variety of industries, including automotive, energy, and consumer products sectors. The company’s applications in the automotive industry include bumpers, body panels, trims, dashboards and other key components. Borealis Compound’s new North Carolina facility will serve automotive industry customers in North America.

“North Carolina offers an ideal east coast location,” said N.C. Commerce Secretary Anthony M. Copeland. “Combined with the state’s superior transportation network, companies can easily reach their markets across North America.”

N.C. Commerce and the Economic Development Partnership of N.C. were instrumental in supporting the company’s investment decision.

While compensation will vary by position, average salaries for the new jobs will be $40,125, above the current average annual wage in Alexander County of $30,631.

“This investment shows our sustained commitment to the automotive industry in North America. North Carolina was a logical choice for us. Its location allows us to service customers across the North American region and we value the supportive, business-friendly environment of the State and of Alexander County,” says Maria Ciliberti, Borealis Vice President Marketing and New Business Development. “We’re convinced that this expansion will strengthen our position as a local supplier to automotive OEMs and their Tier suppliers in North America and that it will enable us to deliver our global material innovations locally. We believe it is important to step up our capacity, capabilities and support infrastructure, to ensure that our customers in North America receive the same high level of service as in the other regions where we operate.”

A performance-based grant of $100,000 from the One North Carolina Fund will help facilitate Borealis’ move to Alexander County. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.

“Many partners in the community came together to support Borealis’ selection of Alexander County,” said N.C. Representative Lee Zachary. “We look forward to the many good things this company will bring to the area.”

In addition to North Carolina Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, the North Carolina Department of Revenue, the North Carolina Department of Transportation, the North Carolina Community College System, North Carolina Railroad, the Alexander Railroad Company, Alexander County and the Alexander County Economic Development Corporation.

Join the VIP Readers' Club!

Creating an account entitles you to the following perks:

Already a member?

×

Subscribe to SVL Free News Email Alerts

* indicates required
×