Amrep Manufacturing Company, a producer of waste collection trucks, will expand its operations, adding 170 jobs and investing more than $21 million in Rowan County.
“Amrep Manufacturing’s expansion in Rowan County validates our efforts to support home grown manufacturers, including a great quality of life, an ideal location, and a diverse, skilled workforce,” said Governor Cooper.
Amrep is a subsidiary of Wastequip, a leading manufacturer of waste handling equipment. Headquartered in Charlotte, Wastequip is a one-stop shop for the cycle of waste hauling, collecting, storing, and transportation with manufacturing sites in 48 states and Mexico. Amrep’s new operation will produce front load and automated side load trucks for curbside collection. The new building will be an 80,000-square-foot production space adjacent to its current facility in Salisbury.
“This expansion continues Wastequip’s growth platform providing specialized equipment and services to customers in the waste industry as the leading integrated solution provider from generation to rest,” said Marty Bryant, President and CEO of Wastequip.
“Salisbury was Amrep’s first expansion of our manufacturing operations several years ago – and this area, including the highly skilled workforce and cooperation of local and state officials continues to afford excellent opportunities for us. We are very excited to get this project underway,” said Eric Mattson, President of Wastequip’s Truck Division.
“Amrep could have expanded anywhere, but they chose North Carolina,” said N.C. Commerce Secretary Machelle Baker Sanders. “This investment will require our increased investment in quality education and the workforce training systems to help our business community thrive.”
Positions at the facility will include fabricators, mounters, painters, supervisors, welders, and other support positions. Although salaries will vary by position, the average annual wage is $57,490, which exceeds Rowan County’s average of $52,101. These new jobs could create a potential payroll impact of more than $9.7 million for the region each year.
Amrep’s expansion in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $335.2 million. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,614,600, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
The project’s projected return on investment of public dollars is 51 percent, meaning for every dollar of potential cost to the state, the state receives $1.51 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
Amrep’s JDIG agreement could also move as much as $179,400 into a fund that helps rural communities across the state attract business in the future. When companies select a site located in a Tier 2 county such as Rowan, their JDIG agreements move some of the new tax revenue into the state’s Industrial Development Fund – Utility Account. Local communities in more economically challenged areas of the state use grants from the Utility Account to build public infrastructure projects, which can improve a community’s ability to attract companies to their regions.
“These new jobs and investments are great additions to our community,” said N.C. Senator Carl Ford. “This expansion will help fuel our local economy and make a positive impact on the people of Rowan County.”
“Amrep has been a wonderful corporate citizen,” said N.C. Representative Harry Warren. “We are thrilled with their decision to grow here and eager to support their continued success in the region.”
The EDPNC would like to recognize the North Carolina Department of Commerce as well as other key partners involved in this project, including the North Carolina General Assembly, the North Carolina Community College System, Rowan-Cabarrus Community College, Rowan County, Rowan Economic Development Council, and Duke Energy.