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Automotive supplier to expand in Wilson

Posted September 26, 2014

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— A Canadian company that produces engines, transmissions and other automotive components plans to buy a Wilson plant and expand its operations, officials said Friday.

Linamar Corp. expects to invest $40 million in the Carolina Forge Co. plant, creating 125 jobs in the next five years, officials said. About 145 people already work at the plant.

“We are excited about the completion of this acquisition bolstering our presence in North Carolina and establishing us firmly in the forging business in North America,” Linamar Chief Executive Linda Hasenfratz said in a statement. “We have had a great experience so far in North Carolina with a great skilled and motivated employee base and lots of opportunity in the region. We look forward to welcoming CFC into our family and continuing to grow our business here in North Carolina.”

An affiliated company, Linamar NC, employs 169 workers in Buncombe County.

The state awarded Linamar with a Job Development Investment Grant that could provide up to $993,000 in rebates of employee withholding taxes over the next 12 years. The company must meet hiring targets each year to obtain the award.

Linamar also received a grant of up to $100,000 from the One North Carolina Fund, which provides financial assistance to attract business projects that will stimulate economic activity. Companies receive no upfront money and must meet hiring and investment targets to obtain the funds.

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  • tpbwetland Sep 26, 2014

    Glad to see the conservatives giddy and falling all over themselves with heavy doses of corporate welfare.

  • tpbwetland Sep 26, 2014

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    You conservatives never could turn down corporate welfare, endlessly living off of the government. This firm just got handed from the taxpayer $993,000 in corporate welfare.

  • Fenway O'Donnell Sep 26, 2014
    user avatar

    Wilson needs this economic shot in the arm. Great job!!

  • iopsyc Sep 26, 2014

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    Your earlier comment seemed to have two complaints. 1) grant money going to a foreign entity and 2) company makes too much money.

    I asked a question about your first complaint, and you replied with a repeat of your second complaint.

    So I'll ask again. What difference does it make who owns the company? The rebates they would get are based on employment tax withholding, which means they will have to employ (and pay) North Carolina resident in order to get those rebates.

  • babylaceycarpenter Sep 26, 2014

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    The difference is the $993.000. It is being given to people who are not in need of the money. That money, could do a lot more good, if used in a different way. As it is now, the money will probably be given out in "bonuses" to the top 5 suits in the company. It will never help anyone here in NC. This is the perfect example of throwing money into a fire.

  • Ashley Baker Sep 26, 2014
    user avatar

    But what they forgot to mention in the story is the ones that lost their jobs because of the buy out.

  • iopsyc Sep 26, 2014

    View quoted thread


    What difference does it make who owns the company if they are employing North Carolina residents?

  • arfamr1010 Sep 26, 2014

    Also, that 100k will be chump change compared to the revenue raised from the new workers getting a paycheck instead of unemployment checks. you libbys will never uinderstand

  • arfamr1010 Sep 26, 2014

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    here in the real world, states must compete for businesses. thats what happens when UE is up all over the country and people are despirate for work. You can thank Obama for that.

  • babylaceycarpenter Sep 26, 2014

    This is a company that doesn't need an extra $993.000. They are already making hundreds of millions every year. The grant money should be for North Carolinians, or at lease Americans, to be able to open businesses, not foreign countries.

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