Business

Ralph Lauren expansion promises jobs in High Point

Posted June 14, 2012 3:02 p.m. EDT
Updated June 14, 2012 3:08 p.m. EDT

— Designer Ralph Lauren Corp. plans to expand its operations in High Point, creating an estimated 500 jobs over the next five years, officials said Thursday.

The company has distribution, research and development and customer service facilities in Guilford County and employs some 1,400 people. It plans to invest about $97 million to add to those operations.

Salaries will vary by position, with the average at about $31,000. 

Ralph Lauren could see up to $2.5 million in tax benefits if it delivers on annual job creation and performance targets through the state's Job Development Investment Grant program.

It was also awarded a grant of up to $500,000 from the One North Carolina Fund, which provides assistance to companies to attract business to the state. The company expects to see local incentives as well, but those have not yet been approved.