State News

Forsyth County lands Caterpillar plant, 510 jobs

Posted July 30, 2010

— Heavy equipment manufacturer Caterpillar Inc. will open a $426 million plant in Winston-Salem, creating 510 jobs, officials said Friday.

Earlier this month, North Carolina officials approved tax breaks and other incentives worth up to $75 million to lure the 850,000-square-foot facility to the state.

Sites in Spartanburg, S.C., and Montgomery, Ala., also were under consideration for the plant.

The plant will produce axle assemblies for large mining machines, Caterpillar officials said, and it is part of the company's long-term strategy to increase mining truck capacity.

The average annual salary for the new jobs will be $40,482 a year, plus benefits, which is slightly higher than Forsyth County's average of $40,352.

Construction on the facility is expected to start in late 2010, and the plant will be operational by early 2012, officials said. Within five years, it is expected to employ about 390 full-time employees and 120 contract workers.

Peoria, Ill.-based Caterpillar qualified for a $600,000 grant from the One North Carolina Fund, which provides incentives to attract business projects to the state. No money is paid up front, and companies must meet job creation and investment targets to receive payments.

The state Economic Investment Committee also voted Friday to award a Job Development Investment Grant to Caterpillar. Under the terms of the JDIG, the company is eligible to receive up to 75 percent of the state withholding taxes for the new jobs in each of the 11 years in which the company meets annual performance targets.

If Caterpillar meets all of the targets called for under the agreement, it would get almost $4.7 million in tax rebates.

The plant will be located on 100 acres next to the site where Dell Inc. operates a computer assembly plant, which is expected to close next year.

Caterpillar plants in Clayton and Sanford have experienced several rounds of layoffs since late 2008, as the company adjusted to the global economic slowdown.

45 Comments

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  • NCSULandscaper Jul 30, 2010

    ive done my part to keep all the employees working at CAT, all we run is CAT machines

  • NCSULandscaper Jul 30, 2010

    Yall dont understand that each plant makes a specific machine, if certain machines are not selling, they get laid off. If other machines, engines, or parts are selling good, they open a new plant to make them.

  • remer54 Jul 30, 2010

    Nope
    These people dont listen just give them about 10 years then they will get it just like the rest of us. Cat will move on to lower wages and the higgest bidder.

  • remer54 Jul 30, 2010

    nope been trying to guess who you were.
    A couple of us have been talking.
    Of the 510 people about 200 will be management from other fac.
    That will under 200 techs with the rest temps.
    What around $10.00 an hour maybe up to $12.50 top pay full time.
    Temps $8.50 to 10.00 per hour.
    sound about right.

  • 3forme Jul 30, 2010

    54 did u work in paint shop

  • remer54 Jul 30, 2010

    The layoff in Clayton were due to the backhoe machines moving back to Leiciester England. That is where the backhoes were build then they were moved to Clayton because they lost money on building them there. They will still lose money on them there the people that work there were happy to get them back. but they could not understand why they would bring them back to lose money again. Those workers have also said that Cat gets kickback from the British gov. to keep the jobs there sound familiar.

  • 3forme Jul 30, 2010

    momee..yeah they make different equipment but they own enough land in clayton to have built the new plant there and use the folks they laid off....corporate greed nothing less

  • 3forme Jul 30, 2010

    if you are trying to make what Cat does logical quit trying..the only place Cat jobs are safe is the place that offers the most incentives... former Cat employee

  • remer54 Jul 30, 2010

    ncsudan you are a CS you pay none of my SS.
    When Cat tells you about all of your benefits they include that they pay SS for you. I guess they do the gov. makes them CS
    If you can figure that one. By the way I can buy and sell you with my spare change.

  • Crankyone Jul 30, 2010

    Geosol: can you give specifics? The haters are on the left, they covet everything everybody else has through hard work, and they want to bring them down.

    To try to explain to you the folly of taking one Catepillar plant down in Clayton and propping another up in Forsyth county is beyond your intellect. So what you perceive as hate is your own inability to absorb facts that run contrary to your beliefs.

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