Zipper maker to expand in Oxford
Posted July 22, 2014
Oxford, N.C. — A company that makes zippers plans to expand its Granville County operation, creating 155 jobs in the next five years, officials said Tuesday.
Ideal Fastener Corp. expects to invest more than $5.7 million to upgrade its plant in Oxford, which already employs 226 people, officials said.
“We have been manufacturing in North Carolina for over 45 years, and we are excited about our continued growth and future here,” Steven Gut, vice president for Ideal Fastener, said in a statement. "We are continuing to invest in additional capacity to help us better service our valued customers."
The privately held company is the second-largest zipper manufacturer in the world, and state Commerce Secretary Sharon Decker said the expansion will allow the company to "manufacture a zipper using new technology that its customers will be able to apply to their products."
The state Economic Investment Committee approved a Job Development Investment Grant for Ideal Fastener, providing the company up to $1.3 million in rebates of employee withholding taxes if it meets job and investment targets over the next 12 years.