Governor Easley Announces 320 Jobs and $2.55 Million Investment as Newell Rubbermaid Expands in Huntersville with JDIG
11/13/2006
JDIG Helps Bring Newell Rubbermaid Expansion to Huntersville
Raleigh - Gov. Mike Easley announced today that Newell Rubbermaid, a leading manufacturer and marketer of household products, will expand its Huntersville campus, investing $2.55 million and creating 320 new jobs over the next five years. The expansion is made possible in part by a Job Development Investment Grant.
“Today’s announcement shows that North Carolina has the skilled workforce and No. 1 business climate to attract globally-recognized companies such as Newell Rubbermaid,” said Easley. “We will continue to make the necessary investments in workforce development, education and infrastructure, so that we remain a top choice for companies looking to relocate and expand.”
Newell Rubbermaid is headquartered in Atlanta and employs approximately 26,500 people in the U.S. and Europe. With 2005 net sales exceeding $6.3 billion, Newell Rubbermaid earned a spot on the 2006 Fortune 500 list of America’s largest corporations.
The company will build a $5 million, 50,000 square foot facility on the Huntersville campus at the NorthPointe Executive Park. Newell Rubbermaid currently has three company business units; IRWIN Power Tool Accessories, Hand Tools, and Rubbermaid Foodservice Products, with approximately 378 employees at the campus. The additional 320 jobs will be professional and management positions that will pay an average annual salary of $88,700, not including benefits, which is almost double the Mecklenburg County average annual salary of $47,900, not including benefits.
“This is an exciting announcement for Newell Rubbermaid,” said Jim Roberts, group president/chief operating officer, IRWIN/Rubbermaid Group. “Expanding our operations in Huntersville will increase collaboration among our teams, help us streamline general and administrative costs, and improve our ability to attract and retain top-tier talent. I feel certain that our employees will enjoy the great communities and recreational opportunities that so many North Carolinians treasure.”
The state’s Economic Investment Committee earlier today voted to award a Job Development Investment Grant (JDIG) to the company to facilitate this project. Under the terms of the JDIG agreement approved by the committee, a nine-year grant will be established. Over the life of the grant, the N.C. Department of Commerce estimates the project will:
• Generate a cumulative gross state product value of about $1 billion;
• Produce a positive, cumulative net state revenue impact of $32.3 million; and
• Contribute $2.2 million to the state’s Industrial Development Fund for infrastructure improvements in rural and economically distressed areas of North Carolina.
For each year that the company meets the required performance targets, the state will provide a grant equal to 65 percent of the state personal income withholding taxes derived from the creation of new jobs. If the company creates all of the jobs called for under the agreement and sustains them for nine years, Newell-Rubbermaid could receive a maximum benefit of $6.6 million.
Job Development Investment Grants are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant. Since the first grant was awarded in 2003, the program has been responsible for creating more than 19,000 jobs and $2.5 billion in investments in North Carolina.
“The state worked with local agencies to bring these new jobs to our area,” said state Rep. Drew Saunders (D-Mecklenburg). “North Carolina continues to provide economic development programs that enable businesses to grow.”
“North Carolina stresses education and a business-friendly climate. That makes companies like Newell Rubbermaid want to grow and expand here,” said state Sen. Malcolm Graham (D-Mecklenburg).
Other partners who assisted with this announcement include: the N.C. Department of Commerce; Mecklenburg County; the Town of Huntersville; Lake Norman Regional Economic Development Group; and the Charlotte Chamber of Commerce.
For more information about Newell Rubbermaid including job opportunities, visit www.newellco.com.