Borealis Compounds, a supplier of plastic materials to the automotive industry, will locate a new $15 million production facility in Alexander County, create 37 new jobs in Taylorsville.
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.
“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,” said Maria Ciliberti, Borealis vice president of 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.”
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.
“North Carolina is known for its a vibrant network of automotive industry suppliers, and Borealis is a welcome addition,” Gov. Roy 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.”
“North Carolina offers an ideal East Coast location,” North Carolina Commerce Secretary Anthony M. Copeland said. “Combined with the state’s superior transportation network, companies can easily reach their markets across North America.” Commerce and the Economic Development Partnership of North Carolina were instrumental in supporting the company’s investment decision.
A $100,000 performance-based grant from the One North Carolina Fund will support Borealis’ move to Alexander County. The 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 grants require a matching grant from local governments.
In addition to Commerce and the EDPNC, 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.