Manufacturer to Add New Products, 19 Jobs in Anson County Expansion
Columbus McKinnon will invest $5.4 million in Wadesboro
RALEIGH: Columbus McKinnon Corporation (NASDAQ:CMCO), a leading designer, manufacturer and marketer of material handling products, technologies and services, will expand operations in Wadesboro, creating 19 jobs, Governor Roy Cooper announced today. The company plans to invest $5.4 million in its Anson County facilities, enabling the introduction of its STAHL line of crane products into the North American market.
"Columbus McKinnon is a global company which can make its products anywhere in the world," said Governor Cooper. "The company's decision to expand in North Carolina proves that our state can compete with the best locations available, and offers global manufacturers everything they need to be successful."
Columbus McKinnon, with headquarters in Getzville, New York, enjoys a rich 140-year tradition of excellence providing products and services such as hoists, actuators, cranes, and lifting and rigging tools. Last year, the company completed its acquisition of STAHL CraneSystems, a well-known brand of hoists and crane components based in Germany. The Anson County expansion will position the company to manufacturer STAHL products in North Carolina, introducing the line directly into the North American market.
"North Carolina leads the Southeast in manufacturing, and companies like Columbus McKinnon understand why, as they have first-hand knowledge of the advantages we offer as a business location," said Commerce Secretary Anthony M. Copeland. N.C. Commerce and the Economic Development Partnership of N.C. were instrumental in supporting the company's expansion decision.
The average wage of the new positions will be $49,897, which is above the Anson County average wage of $32,594.
A performance-based grant of $60,000 from the One North Carolina Fund will help facilitate Columbus McKinnon's expansion in Anson 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.
"We welcome this new business expansion at Columbus McKinnon," said N.C. Senator Tom McInnis. "The Wadesboro location shows strong growth and it's great to see these new jobs come to our area."
"Many people and local organizations pulled together to help this company expand in our region," said N.C. Representative Mark Brody. "We're proud of this collaboration and stand ready to assist Columbus McKinnon in the future as they continue to grow in North Carolina."
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 Community College System, Anson County, the Town of Wadesboro, and the Anson Economic Development Partnership.