RFMD To Spend $80 Million in Facility Expansion, Will Add 300 Jobs
Posted March 6, 2006 2:06 a.m. EST
RALEIGH, NC — RF Micro Devices
, a developer of proprietary radio frequency integrated circuits and amplifiers for use in the wireless industry, is going to spend $80 million to expand its Greensboro facility and hire an additional 300 workers over the next three years, the company said Monday.
Construction on the new facilities will begin this spring.
If all the new jobs are created, RF Micro will increase the size of its Triad workforce by some 20 percent.
North Carolina Governor Mike Easley said in Raleigh that RF Micro is eligible to receive nearly $5 million in state tax incentives if the company generates and retains the number of new jobs it announced.
"We are extremely appreciative of the support we received from the Governor, our state representatives, and city and county officials, who were instrumental in our decision to expand our manufacturing operations here in Greensboro and create additional jobs for the local area," said Jerry Neal, a company co-founder and vice president for marketing and strategic development.
RF Micro (Nasdaq: RFMD) is coming off record revenue of $208 million in its most recent quarter. The company was launched in 1991. It employs 2,600 people, including more than 1,600 in the Triad.
"This is RFMD's fifth expansion in the 15 years since it opened its doors, proving that North Carolina is continuing to make the right investments to succeed in the global economy," Easley said in a statement. "The company's sustained ability to thrive and grow in our state shows that we are providing the education, skilled workforce and infrastructure that businesses need."
According to Easley's office, the new jobs will pay an average salary of $52,290 plus benefits.