$5.5 Million Investment by Telephonics Corporation will create 75 jobs in Elizabeth City
: Telephonics Corporation, a communication system company, will create 75 jobs as it expands its operations in Pasquotank County, Governor Roy Cooper announced today. The company will invest $5.5 million in a new facility, located in Elizabeth City.
"North Carolina has the second largest aerospace cluster in the U.S.,"
said Governor Cooper. "Telephonics Corporation can see Pasquotank County's growing infrastructure and main street development, along with a strong workforce to fuel their expansion in Elizabeth City."
Telephonics designs and manufactures sophisticated radar and communications systems for the military and aviation industry. The company has been operating at the Elizabeth City Regional Airport since 2010, but will expand into 25,000SF of space in north Elizabeth City to assemble, test and repair Telephonics products.
Starting with audio headset manufacturing in 1933, the company expanded its reach into innovative systems that are world-renown for high-tech surveillance, communications, tracking and radars for aircrafts and ground vehicles.
"North Carolina has the largest manufacturing workforce in the southeastern United States,"
said North Carolina Commerce Secretary Anthony M. Copeland. "I am pleased that our business climate and educational resources made Pasquotank County an easy choice for Telephonics Corporation's expansion."
The North Carolina Department of Commerce and the Economic Development Partnership of N.C. (EDPNC) were instrumental in supporting the company's decision to expand in Pasquotank County.
Salaries for the new jobs will vary by position but the average annual wage will be $64,768. The average annual wage in Pasquotank County is $34,929.
A performance-based grant of $250,000 from the One North Carolina Fund will help facilitate Telephonic's new operation in Pasquotank 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.
"These 75 high-paying jobs for Pasquotank County are greatly welcomed,"
said N.C. Senator Bob Steinburg. "We are excited for the economic impact that Telephonics Corporation will make in Elizabeth City."
"It's exciting news to have a company invest $5.5 million in our community,"
said N.C. Representative Howard J. Hunter, III. "We are confident that Elizabeth City will continue to support Telephonics Corporation as they fly to higher heights in North Carolina."
In addition to North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the College of the Albemarle, Elizabeth City State University, Pasquotank County, Elizabeth City-Pasquotank County Economic Development Commission, NC East Alliance, Electricities of North Carolina and City of Elizabeth City.
- Contact: Ford Porter