RALEIGH – Gov. Mike Easley announced Thursday that sister companies Chris-Craft Corporation and Indian Motorcycle Company will open facilities in Kings Mountain, investing approximately $42 million in Cleveland County and creating 807 jobs over the next five years. The announcement was made possible in part by grants from the state’s One North Carolina Fund and Job Development Investment Grant (JDIG) program.
"By choosing North Carolina, these companies offer proof that we have the skilled, knowledge-based workforce needed to support the growth and success of the boat and vehicle manufacturers in our state," Easley said. "We will continue to make the necessary investments in education, infrastructure and workforce development so that we remain a top choice for companies wanting to relocate and expand."
Founded in 1874, Chris-Craft is the oldest boat manufacturer in the United States. The company will relocate its yacht division from Sarasota, Fla. to the former Daimler-Chrysler’s Axle Alliance building in Kings Mountain and plans to begin manufacturing next year. The majority of the 640 new jobs will be skilled production positions, and while individual wages will vary greatly, the average wage for all of these positions will be $32,000 a year plus benefits, which is greater than the Cleveland County average yearly pay of $28,700, not including benefits.
Indian Motorcycle Company will move from Sarasota, Fla. and plans to invest more than $23 million to open a motorcycle production facility in the old International Paper plant near Kings Mountain. The new 167 jobs will be skilled production and engineer positions and while individual wages will vary greatly, the average wage for all of these positions will pay an average annual salary of $47,000 plus benefits, which is more than the Cleveland County average of $28,700 a year, not including benefits.
"This state has a workforce with the skills we need to build boats. Former furniture makers and woodworkers are ideal employees for us," said Stephen Heese, Chris-Craft Corporation president. "The central location near several interstates will facilitate product distribution, and the quality of life cannot be beat. The biggest factor in our decision was the warm reception we received by local and state officials, and their willingness to work with us to make this project happen."
"Our primary goal is to return Indian Motorcycle Company to its rightful position as a premium motorcycle brand, selling beautifully designed, high quality products and delivering world-class service," said David Wright, Indian Motorcycle Company president. "North Carolina offers us the skilled workforce and business-friendly atmosphere to make that happen."
"I applaud the wisdom of Chris-Craft and Indian Motorcycle in selecting Cleveland County for its new facilities," said Senator Walter Dalton (D-Cleveland, Rutherford). "It is an excellent marriage between great companies and a great workforce."
Boat manufacturing and other marine-related industries play a major economic role in North Carolina. The N.C. Department of Commerce and Small Business and Technology Development Center are actively collaborating to recruit these companies, resulting in more than 100 boat makers employing more than 25,000 North Carolina workers. Other partners who helped make this announcement possible include: the N.C. Community College System, Cleveland County, City of Kings Mountain, and Duke Energy.
Both companies have been awarded a One North Carolina Fund grant and a Job Development Investment Grant (JDIG). These two funds combined have helped create more than 30,000 jobs and an investment of more than $5 billion since 2001.
The One North Carolina Fund assists the state in recruiting and expanding quality jobs by providing financial assistance to businesses or industries deemed by the Governor to be vital to a healthy and growing state economy. JDIG grants are awarded only to projects whose benefits exceed their costs to the state which would not be undertaken in North Carolina.
Under the terms of the JDIG agreements, approved unanimously by the state Economic Investment Committee that oversees the program, a 10-year grant will be established for each company. Over the life of the two grants, the N.C. Department of Commerce estimates the projects will:
* Generate a combined cumulative gross state product value of $566 million; * Produce a combined positive, cumulative net state revenue impact of $5.8 million.
For each year that both companies meet required performance targets, the state will provide a grant equivalent 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 10 years, Indian Motorcycle Company and Chris-Craft Corporation could receive a combined maximum benefit of $7.56 million.
For more information about Chris-Craft Corporation or job opportunities, visit www.chriscraftboats.com. For more information about Indian Motorcycle Company or job opportunities, visit www.indianmotorcycle.com.
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RALEIGH – Gov. Mike Easley announced Thursday that sister companies Chris-Craft Corporation and Indian Motorcycle Company will open facilities in Kings Mountain, investing approximately $42 million in Cleveland County and creating 807 jobs over the next five years. The announcement was made possible in part by grants from the state’s One North Carolina Fund and Job Development Investment Grant (JDIG) program.
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