State News

Aircraft services, parts firm plans N.C. expansion

Posted September 28, 2010 4:03 a.m. EDT
Updated September 28, 2010 3:50 p.m. EDT

— A North Carolina-based company that repairs aircraft and manufactures airline interior sections plans to expand near its Greensboro headquarters.

TIMCO Aviation Services will open a passenger seat manufacturing operation in the Davidson County town of Wallburg, creating 275 jobs, officials said Tuesday.

The average wage for the new jobs is $34,728, plus benefits, which is higher than the Davidson County average of $29,640.

TIMCO, which employs almost 1,200 people in Greensboro, said in June it was scouting sites in North Carolina and other states to expand a division that makes seats for commercial and military aircraft.

The company was awarded a $200,000 grant from the One North Carolina Fund, which provides cash matched by local governments 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 Tuesday to award a Job Development Investment Grant to TIMCO. Under the terms of the JDIG, the company is eligible to receive a rebate of 60 percent of the state withholding taxes paid on the new jobs. If it meets annual performance targets over nine years, it could receive almost $1.8 million through the grant.