Business Briefs

Michelin to expand N.C. tire operation

Posted April 12, 2010 2:56 p.m. EDT

— Michelin North America Inc. will expand its operations in Stanly County, investing more than $11.3 million during the next three years and creating 74 jobs, officials announced Monday.

The expansion will add tire retread production capability in Norwood to better serve commercial, military and general aviation customers.

The average annual wage for the new jobs will be $35,784, plus benefits. The average wage in Stanly County is $28,288.

South Carolina-based Michelin North America employs more than 600 workers in North Carolina at facilities in Norwood, Asheboro and Salisbury. The company designs, manufactures and sells tires for every type of vehicle including airplanes, automobiles, bicycles, earthmovers, farm equipment, trucks, motorcycles and the space shuttle.

The company qualified for a $620,000 grant from the One North Carolina Fund, which provides financial assistance to attract business projects that will stimulate economic activity and create new jobs. Companies must meet job creation and investment performance standards to obtain the grant funds.