Economic Development at work in Wayne County
At a time when economic indicators point to a less than stellar outlook, it is exciting when one of Wayne County’s industries is able to grow and expand. Such is the case with Cooper-Standard Automotive, Inc. (CSA)
In mid-March 2011, CSA officials met with Jason Semple and Dale Carroll from the NC Department of Commerce as well as Joanna Helms and Mike Haney from the Wayne County Development Alliance at their Woodland Church Road facility to share its plans for expansion in Wayne County. Based on their figures and projections, an application for the North Caroline ONE Fund was made and so began the process of securing funds to assist Cooper Standard in their expansion.
After several months of phone calls, emails, applications, and mounting paperwork the long awaited phone call came – the governor’s office approved the state grant! This funding will assist CSA in its efforts and in affect create new jobs in North Carolina.
Cooper-Standard Automotive Inc. received $157,400 under the One North Carolina Fund with a required local match required by a unit of local government. The purpose of the One North Carolina Fund is to help recruit and expand quality jobs in high value-added, knowledge-driven industries. It also provides financial assistance to those businesses or industries deemed vital to a healthy economy that are making significant efforts to expand in North Carolina.
Cooper-Standard Automotive Inc. was recently awarded four new contracts which will pave the way for the creation of 137 permanent, full-time jobs in Wayne County by 2014. This is in addition to the existing 370 employees currently employed at Cooper-Standard. These new jobs will have an average wage of $30,334.00, which is above the average salary paid in Wayne County. This project is paramount to the success of Goldsboro and Wayne County.
“It’s always rewarding to be able to positively assist one of our local industries as they make the effort and decision to expand here in Wayne County. The Development Alliance was able to assemble a team of local and state leaders to ensure the proposed expansion became a reality.” – Mike Haney VP/Existing Industry Specialist WCDA
This project will lead to an investment of $39.6 million to fulfill the new equipment requirements needed to meet the demand created by the aforementioned contracts. This investment will result in over $200,000 in additional revenue for Wayne County in the first year! Subsequent years will see less revenue but this is due in large part to the affect of depreciation schedules on the new equipment.
Governor Beverly Perdue announced the NC One Fund award and subsequent expansion at the Military Summit held at Walnut Creek Country Club on Monday September, 26. It was a real honor to see and experience this first hand. A lot of great people put in a lot of hard work to get this done – Congratulations to Cooper Standard Automotive! We are excited to see and be a part of your growth in Wayne County!!
Plant Manager Patrick Clark listens as Gov. Beverly Perdue announces Cooper Standard's expansion
Cooper Standard is a leading global automotive supplier, offering solutions in the body sealing, fuel, brake and emissions, thermal management and anti-vibration segments of the industry. Its Goldsboro, NC facility manufactures rubber, metal, and plastic seals and trim for the automotive industry and has been a staple industry in Wayne County since 1984.
WCDA, Inc.
No trackbacks yet.